There have been some disturbing trends over at financial website SeekingAlpha.com. We have been contacted by multiple contributors complaining of an anti-taxi bias. Articles providing positive analysis of taxi medallion financial industry are being spiked, while those bearish on the taxi medallion financial industry have been published.
In at least two cases, authors have had their accounts terminated by SeekingAlpha.
SeekingAlpha has covered the taxi medallion financial industry for many years. In December of 2014, following the publication of a short-selling report by now-disgraced financial felon James Hickman, the number and frequency of articles regarding the taxi medallion financial industry increased significantly. Bulls and bears have passionately debated the issue ever since.
However, in recent weeks, at least two authors had their entire member accounts terminated by SeekingAlpha because, we are told, they were publishing bullish taxi medallion financial industry articles as well as comments. We have indications that several other authors have also had their accounts terminated, in which SeekingAlpha refused to give specific explanations as to why.
Then, after publishing three extremely bearish articles on the taxi medallion financial industry by an anonymous author (“ValueSquared”), SeekingAlpha refused to publish at least three bullish articles on the taxi medallion financial industry — only to publish yet another bearish article by the same anonymous author today.
According to complaints received by BloggerNews, one author provided a detailed analysis of the TAXI stock sector, was asked to revise it multiple times with specific notes from editors, only to have the article killed by the editorial staff, which used vague language to explain the decline.
The same author submitted a second article focusing less on specific stocks within the TAXI stock sector, and a broader article regarding the taxi medallion financial industry, only to have it declined as well, again without explanation.
A second author, one with 45 years experience as a TAXI driver in New York City, submitted a detailed bullish article, which was declined for not having “meaningful investment analysis”. A revision with such analysis, typical of previous analysis in TAXI stock articles, and it was declined without explanation.
BloggerNews has received several other complaints on this same topic.
Is SeekingAlpha deliberately preventing bullish articles on the TAXI stock sector and the taxi medallion financial industry, while permitting bearish articles only to be published? Why would it do such a thing? Has SeekingAlpha been bribed by those who are short-selling the taxi medallion financial industry?
We will put these questions to Managing Editor George Moriarty. Stay tuned.