Nithin Kamath advises retail investors to use AI chatbots to verify stock recommendations

Zerodha founder and CEO Nithin Kamath advises retail investors, when receiving stock recommendation messages, to first ask Claude or ChatGPT whether the recommendation is reliable, saying this could save a lot of money. The statement is in response to the Enforcement Directorate (ED) freezing trading accounts worth about 20 billion rupees; the case involves the WhatsApp group "Multibagger Stocks" pushing buy recommendations from December 2025 to February 2026, alongside pump-and-dump activity in two stocks, R M Drip and Sprinklers and R&B Denims. Related reports also note that chatbots can only identify warning signs such as urgency and promises of easy profits, and cannot find out who forwarded the messages or who carried out the pump-and-dump. Currently there are no further evidence-supported developments in this matter.

AI-generated from public reports

1. Oct 20· 1 reports

   English translation is being prepared.

   Source:MediaNama