BaFin warns buy recommendation for a stock market newbie Asmallworld !!!

Investigation of market manipulation!!

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The German Federal Agency for financial services supervision (BaFin) warns against buying recommendations sent by E-Mail for the shares of the company of  Asmallworld .

The authority had evidence that false or deceptive declarations were made within the framework of the recommendations or existing conflicts of interest would be kept legal, BaFin announced on Thursday. She have therefore opened an investigation on suspicion of market manipulation.

Asmallworld shares are included in addition to the listing in Zurich – in Germany on the stock exchanges of Frankfurt am Main (including Xetra), Stuttgart, trade gate and Quotrix in the OTC market. In Frankfurt was the pricing with effect from 3. Suspended April 2018 until further notice, the BaFin announced further.

She advises all investors, to examine prior to Asmallworld shares how «reliable the information is, and to find out about the society concerned from other sources.

Chief regrets

The Chief of Asmallworld, Jan Luescher, regrets the operations upon request. «We have taken note of the BaFin investigation», he said in a telephone interview with the news agency AWP.

«For a few weeks runs a strong push campaign for Asmallworld shares on the home page», so his explanation. It is schönfärberisch and not going to help the company.

«This campaign does not come from us,» he stressed. Asmallworld tried to stop the course-driving campaign, have but no control over it.

«This campaign does not come from us,» he stressed.

Asmallworld tried to stop the course-driving campaign, have but no control over it.

Stock collapses

Asmallworld shares are literally collapsed in the afternoon following the announcement of the BaFin. After a brief trading halt, shares initially fell almost 10 percent. As a result the losses expanded massively to just under 44 percent, which the title was last traded for 12.40 francs.

Asmallworld had only announced the signing of a purchase option agreement for a luxury-travel community on Thursday morning. According to the call options agreement, Asmallworld could fully assume the company until November 30, 2018, they said.

Asmallworld is a private social network with approximately 28’500 members. The operation of the platform’s core business of “Facebook for the rich and beautiful» with headquarters in Zurich.

Chairman of the Board of the company is the Jet setter Patrick Liotard-Vogt, heir of a former Nestlé corporate bosses. The listing on the Swiss Stock Exchange SIX of Asmallworld had only held on March 20, 2018. (sda/awp)

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