Cases of company insiders participating in driving up stock prices are not uncommon in financial markets. Usually these behaviors involve market manipulation, insider trading, or other illegal behaviors. The following are some typical cases and operating techniques： ### 1. **Insider Trading (Insider Trading)** -**Case **: In 2001, executives of Enron, a U.S. energy company, used internal information to sell a large number of stocks before the company's financial crisis broke out, causing ordinary investors to suffer huge losses. -**Techniques**: Company insiders use undisclosed material information (such as upcoming financial reports, M&A news, etc.) to conduct stock transactions and buy or sell stocks in advance to obtain illegal profits. ### 2. **Misrepresentation and manipulation of financial data** -**Case **: In 2002, WorldCom manipulated its financial statements by falsely reporting income and concealing expenditures, driving up its stock price, which eventually led to the company's bankruptcy. -**Techniques**: Company executives create the illusion of good company performance by falsifying financial statements, inflating income or hiding liabilities to attract investors to buy stocks and drive up stock prices. ### 3. **Market Manipulation (Market Manipulation)** -**Cases**: In 2015, the China Securities Regulatory Commission disclosed a number of market manipulation cases, some of which involved company insiders conspiring with external funds to drive up stock prices through false transactions, reverse transactions, etc. -**Technique**: Insiders cooperate with external funds to create the illusion of active trading through frequent trading, reverse trading (that is, the same group of people buy and sell stocks between different accounts) and other means, attracting retail investors to follow suit and buy, driving up stock prices and then selling for profit. ### 4. **Publish false or misleading information** -**Case **: In 2018, the U.S. Securities and Exchange Commission (SEC) sued Tesla CEO Elon Musk, accusing him of posting false information about “privatizing Tesla” on Twitter, causing the stock price to fluctuate sharply. -**Techniques**: Company insiders publish false or misleading information through the media, social media or other channels to influence market sentiment, drive up or suppress stock prices, and profit from them. ### 5. **Increase shipments (Pump and Dump)** -**Case **: In 2017, the U.S. Securities and Exchange Commission disclosed a case involving penny stocks, including company insiders and external investors. -**Technique**: Insiders conspired with external investors to push up stock prices by releasing positive news and creating market heat, attracting retail investors to follow suit and buy. After the stock price rose to a certain level, insiders and collaborators sold off a large number of stocks, causing the stock price to plummet. ### 6. **Use options or derivatives for manipulation** -**Case **: In 2006, SAC Capital, a US hedge fund manager, was accused of using inside information to trade options and make a profit after driving up stock prices. -**Techniques**: Insiders use options, futures and other derivatives to trade, indirectly influence the price of derivatives by manipulating the price of the underlying stock, and obtain illegal profits from them. ### 7. **Use related-party transactions to drive up stock prices** -**Case **: In 2019, the China Securities Regulatory Commission disclosed a related-party transaction case in which an executive of a listed company conducted false transactions through an affiliated company, driving up the company's stock price. -**Techniques**: Company insiders conduct false transactions through affiliated companies to create the illusion of the company's business prosperity, attract investors to buy stocks, and drive up stock prices. ### 8. **Use the repurchase plan to drive up the stock price** -**Case **: In 2018, the US technology giant Apple announced a large-scale stock repurchase plan. The market questioned that its motivation for repurchase was to drive up the stock price, not to return to shareholders. -*****: Company insiders have announced a large-scale stock repurchase plan to reduce the number of shares outstanding in the market and drive up the stock price. At the same time, insiders may sell stocks at high prices to make a profit. ### Conclusion These cases and techniques show how company insiders use improper means to drive up stock prices and obtain illegal benefits. These behaviors not only harm the interests of ordinary investors, but also undermine the fairness and transparency of the market. Regulatory agencies of various countries (such as the SEC of the United States, the China Securities Regulatory Commission, etc.) have severely cracked down on such acts and imposed legal sanctions on those involved. Investors should be vigilant when participating in the market and avoid being misled by false information or manipulative behavior.