Need some advice from ppl with financial expertise
I received a message from a business that their stock recommendation had doubled in less than a year. Out of curiosity, I replied asking for more information. I received a call from them today, stating that they have a stock recommendation ready with market research, which will be sent to me on Monday. Once I make an investment with my stock brokerage, I just have to inform them about my investment with a screenshot. They are expecting me to pay them 10% of the profit I earn after a few months of holding the stock. I said okay, but the skeptic in me is telling me that this is a scam, a 'pump and dump' scheme. Now I am going to do my due diligence on the stock recommendation, but is it legal? Will I be breaking any SEBI (Securities and Exchange Board of India) rules by investing based on recommendations from businesses like these? How can I avoid being part of pump and dump schemes even after doing my due diligence on stock? Any advice is appreciated.
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