Social media info should not drive KSE investors: Analysts
KUWAIT: Investors should not base their decisions at Kuwait Stock Exchange (KSE) on information gathered from social media outlets, analysts warned yesterday. In several statements to KUNA, financial analysts called on investors to gather data from actual listed companies instead of trading on assumption and rumors.
Executive Vice President for Asset Management at Murabahat Investment Company Muhannad Uthman Al-Mesbah said that the uncertainty of information coming out of social media and forums might jeopardies investments at KSE especially for the small-time investors.
Extracting information from such tools might become hazardous for trading, said Al-Meshbah, revealing that recently the market authority decided to refer unlawful speculations and trading to the public prosecution.
Meanwhile, CEO of A-Arabi Company for Financial Brokerage Maytham Al-Shaks stressed that the source of information was vital for successful trading; however, around 70 percent of investors currently were gathering information from social media which is an alarming figure.
Also providing his input, head of Al-Nemash International Group, Ali Al-Nemash said that the market authorities should inform investors on the best means to gather information regarding trading at the market, stressing that amateur and veteran investors would both benefit from such step.