According to information received by the FMA, the stock of LOCOSOCO GROUP PLC (ISIN: GB00BD5BTL23, ticker symbol: ROR1) is currently being intensively recommended by means of cold calling as one to buy. Investors are being contacted by unknown entities/persons, who are potentially do not have the necessary authorisation for providing financial services in Austria.
Promises are made about a doubling of the stock price within a period of a few weeks, as well as the possibility to trade-in stock in LOCOSOCO GROUP PLC for certain bluechip stocks, e.g. Nestlé.
The FMA advises all investors to check the details stated in such recommendations to buy the stock very carefully using other sources. This particularly applies in the case where investors are being given particularly strongly worded recommendations to buy the stocks, with the profits spoken of being extremely high, the on-boarding of prominent investors, and/or where investors are being placed under time pressure to do so.
If you are contacted by unknown companies or persons, the FMA recommends you to obtain information about the company in question, and to check on the FMA website whether the company or the person has the necessary authorisation in order to be able to provide financial services in Austria.
Frequently, the sole purpose of such telephone calls, advertisements in market letters or e-mails are to push investors towards buying certain shares, so that the caller or sender of the letter or mail is able to profit from the price of these shares increasing. In this regard, we also refer investors to the Let’s talk about money section on the FMA website.
LOCOSOCO GROUP PLC’s shares are listed on the Wiener Börse AG in Austria, in the Vienna MTF, in the direct market market segment.