A New York Class Action Alleges Ryde Shares Were Pumped by Online 'Advisers'

The Investing Iguana

A New York Class Action Alleges Ryde Shares Were Pumped by Online 'Advisers'

Mon 5 Oct 2026 | Podcast

The Numbers

A class action in New York federal court alleges that people posing as financial advisers online inflated the share price of Singapore-based Ryde, and that the shares then fell about 75% in after-hours trading on 11 September 2024. No court has ruled, and Ryde says it intends to defend the case. The plaintiff allegedly bought about 19,000 shares at roughly US$21 each, close to a US$22 peak, before the fall. By 1 October 2026 the shares closed at US$0.68, about 97% below that high. Today's podcast turns the complaint's pattern into three checks for any sudden price jump.

My Personal Take

This week I have been taking numbers apart: OCBC's 3.3% into two payments, DBS's gap into a judgment about one. A price jump with no news attached is a number with no parts to take apart, which is what the three checks are for. The figure I keep returning to is the US$22 peak against the US$0.68 close, because it needs no ruling to be true. The cause is the part that does need one. A court finding, or the defence Ryde files, would change how I read the pattern's fit to this case, though not the price figures. 🦖

📺 YouTube: https://youtu.be/i_cm1VnHo50

Not financial advice. Iggy's Forensic Compliance Standards apply.

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No court has ruled, and Ryde says it intends to defend the case. The plaintiff allegedly bought about 19,000 shares at roughly US$21 each, close to a US$22 peak, before the fall. By 1 October 2026 the shares closed at US$0.68, about 97% below that high. Today's podcast turns the complaint's pattern into three checks for any sudden price jump.</p>\n<p></p>\n<p>My Personal Take</p>\n<p>This week I have been taking numbers apart: OCBC's 3.3% into two payments, DBS's gap into a judgment about one. A price jump with no news attached is a number with no parts to take apart, which is what the three checks are for. The figure I keep returning to is the US$22 peak against the US$0.68 close, because it needs no ruling to be true. The cause is the part that does need one. A court finding, or the defence Ryde files, would change how I read the pattern's fit to this case, though not the price figures. 🦖</p>\n<p></p>\n<p>📺 YouTube: https://youtu.be/i_cm1VnHo50</p>\n<p></p>\n<p>Not financial advice. Iggy's Forensic Compliance Standards apply.</p></body></html>","htmlText":"<html><head></head><body><p></p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/64cc14f72e7e17f21c180e93616b4284\" tg-width=\"1536\" tg-height=\"2752\"></p>\n<p><strong>A New York Class Action Alleges Ryde Shares Were Pumped by Online 'Advisers'</strong></p>\n<p>Mon 5 Oct 2026 | Podcast</p>\n<p></p>\n<p>The Numbers</p>\n<p>A class action in New York federal court alleges that people posing as financial advisers online inflated the share price of Singapore-based Ryde, and that the shares then fell about 75% in after-hours trading on 11 September 2024. No court has ruled, and Ryde says it intends to defend the case. The plaintiff allegedly bought about 19,000 shares at roughly US$21 each, close to a US$22 peak, before the fall. By 1 October 2026 the shares closed at US$0.68, about 97% below that high. Today's podcast turns the complaint's pattern into three checks for any sudden price jump.</p>\n<p></p>\n<p>My Personal Take</p>\n<p>This week I have been taking numbers apart: OCBC's 3.3% into two payments, DBS's gap into a judgment about one. A price jump with no news attached is a number with no parts to take apart, which is what the three checks are for. The figure I keep returning to is the US$22 peak against the US$0.68 close, because it needs no ruling to be true. The cause is the part that does need one. A court finding, or the defence Ryde files, would change how I read the pattern's fit to this case, though not the price figures. 🦖</p>\n<p></p>\n<p>📺 YouTube: https://youtu.be/i_cm1VnHo50</p>\n<p></p>\n<p>Not financial advice. Iggy's Forensic Compliance Standards apply.</p></body></html>","text":"A New York Class Action Alleges Ryde Shares Were Pumped by Online 'Advisers' Mon 5 Oct 2026 | Podcast The Numbers A class action in New York federal court alleges that people posing as financial advisers online inflated the share price of Singapore-based Ryde, and that the shares then fell about 75% in after-hours trading on 11 September 2024. No court has ruled, and Ryde says it intends to defend the case. The plaintiff allegedly bought about 19,000 shares at roughly US$21 each, close to a US$22 peak, before the fall. By 1 October 2026 the shares closed at US$0.68, about 97% below that high. Today's podcast turns the complaint's pattern into three checks for any sudden price jump. My Personal Take This week I have been taking numbers apart: OCBC's 3.3% into two payments, DBS's gap into a judgment about one. A price jump with no news attached is a number with no parts to take apart, which is what the three checks are for. The figure I keep returning to is the US$22 peak against the US$0.68 close, because it needs no ruling to be true. The cause is the part that does need one. A court finding, or the defence Ryde files, would change how I read the pattern's fit to this case, though not the price figures. 🦖 📺 YouTube: https://youtu.be/i_cm1VnHo50 Not financial advice. Iggy's Forensic Compliance Standards apply.","highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/615159687246416","repostId":0,"isVote":1,"tweetType":1,"viewCount":217,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1100,"optionInvolvedFlag":false,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/615159687246416"}