YouTuber & Bigg Boss OTT Winner Elvish Yadav’s Pump & Dump Penny Stock Saga

Elvish Yadav Faces Double Setback: From Police Charges to Stock Market Disaster:

Famous YouTuber and Bigg Boss OTT Season 2 winner, Elvish Yadav, finds himself at the center of controversy once again. This time, however, it’s not just personal but also professional woes that have plagued him, making headlines across media platforms.

Personal Turmoil:

Elvish Yadav’s recent run-in with the Noida Police over charges of possession of snake venom has thrust him into the spotlight for all the wrong reasons. With legal troubles looming over him, his personal life is undoubtedly in disarray.

Professional Misstep:

But it’s not just the legal troubles causing upheaval in Elvish’s life. His foray into the stock market, once touted as a lucrative opportunity for his followers, has turned into a nightmare. The stock in question, White Organic Retail, has seen a catastrophic decline, leaving many of his followers in financial distress.

The rise and sharp fall of the stock: A Pump and Dump Case:

On December 19, 2022, Elvish tweeted about investing in White Organic Retail and promised that it could yield good short-term returns.

A day after, he posted yet another tweet related to the stock, stating “Kama Liye Paise Fer?”, after the stock had risen by 6.74% to Rs 144.95.

However, very soon, the stock prices started going downhill. The stock price of White Organic Retail was trading at Rs 7.65. The stock, which had reached a high of Rs 160.65 at the start of the year, was about to face a dreadful sight for the investors. As the stock plummeted like falling pins, it turned into a penny stock, trading below Rs 10. This situation turned out to be a classic case of pump and dump. 

Here is a snapshot of volumes on the day before and after the tweet, and the delivery volume post the tweet:

Before: Volume was increasing, as was the delivery volume

After: Volume was ascending, but the volume was not so encouraging

Reporting losses:

The company had been reporting back-to-back losses for the past four quarters, with the recent loss registered at the tune of Rs 21 lakh for the quarter ending December 2023.

Conclusion:

Elvish Yadav’s recent run-ins with the law and the stock market serve as cautionary tales about the perils of influence and unchecked endorsements. As his personal and professional woes continue to unfold, it remains to be seen how he navigates these challenges and rebuilds trust with his audience.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.