Say someone who is really rich has a lot of stock in one company at one brokerage account. In the second brokerage account that guy has millions of dollars in cash. Why can’t the rich guy just sell all his shares of this company, and implement a sell limit with a very high and unique price. Than in his second brokerage account with lots of cash, he does a limit order where he only buys those shares at that specific price. Wouldnt that make the price of that stock go up and that rich guy makes a bunch of money?
Or why don't two rich friends do this exact scenario? Friend 1 sells all his stock at insane price. Friend 2 buys stock at insane price. Than when friend 2 receives stock, the stock would have appreciated and friend 2 can sell and both friends split profit.
Obviously somebody probably has tried this and it has not worked, but whats stopping some rich guy from doing this? There has to be a reason why rich people dont do this?
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