Faced with GameStop’s shares, which skyrocketed in January 2021, a review was conducted by a cyber security company. This company is known as PiiQ Media, based in Massachusetts. The IT security expert says that robots have been involved in promoting GameStop on major social media platforms.The analysis focused on publications on Twitter, Facebook, Instagram and YouTube.
As a result, bots used these social platforms to push GameStop, Dogecoin and other “meme” actions. It should be noted, however, that the influence of these bots in the global saga is still unknown.
According to PiiQ Media’s statement, tens of thousands of bot accounts have collaborated for this promotion.
How did PiiQ Media detect these robots?
The cybersecurity company first focused on analyzing keyword patterns in conversations and profiles. The main words were “Hold the Line” and the GameStop stock symbol “GME”. PiiQ Media then performed a comparison by evaluating messages posted on social networks.
The startup was able to detect daily “start and stop patterns”, reminiscent of GameStop-related publications. In fact, a spike forms on each trading day. Finding such patterns means the presence of bots. Artificial behavior patterns” have also been found in GameStop-related posts. All this was before the frenzy of January 28th until February 18th 2021.
Responses to PiiQ Media’s statements about these bots
Reddit CEO Steve Huffman declared in February 2021 the existence of artificial accounts with automated content on its platform. However, these robots have no significant role to play in r/GameStop traffic. According to the Twitter representative, these bots can be used for creative and innovative purposes, so there is no need to remove them from its service.
As for the Securities and Exchange Commission (SEC), they didn’t wait long to audit GameStop. As a result, trading in several companies was suspended because the commission noticed unusual business activity.
By M.Azziouni 05/03/2021