Fake news: "It's basically fraud," said John Longo in The Asbury Park Press

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Date: 
Friday, September 8, 2017
Location: 
Asbury Park, NJ

Asbury Park Press

Fake news, coursing through websites and social media pages, isn't confined to politics. It is hitting businesses, too, forcing them to be on alert to douse deliberate misinformation before it affects their stock price or brand.

The potential for fake business news to go viral has prompted regulators and academics to search for ways to crack down on the publishers. For now, though, it is up to investors and consumers to ferret out what's real and what's fake.

"It's basically fraud," said John Longo, a finance and economics professor at Rutgers Business School in Newark and New Brunswick. "But if someone is anonymous, they might feel emboldened as a way of trading on it."

But the digital age has added urgency. Hoaxes can spread more quickly, and investors don't need the stories to linger long to make money; computer programs trade stocks by the second, Longo said.

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TAGS: Finance and Economics John Longo Online Reputation Management