[citation needed] Seeking Alpha was founded in 2004 by former Morgan Stanley technology analyst David Jackson.

In 2014, the Review of Financial Studies published Wisdom of Crowds: The Value of Stock Opinions Transmitted Through Social Media.

"[6] Seeking Alpha has been alleged to be a platform for market manipulators by giving some investors the ability to post highly negative news or analysis about a company causing a rapid decline in the stock price when their followers rushed to sell.

One study that tracked the publication of negative Seeking Alpha articles by a group of writers resulted in over $20 billion in mispricing and attributed this to manipulation.

[8] Despite facing allegations, Seeking Alpha has not been held legally liable by either a court or the U.S. Securities and Exchange Commission and no definitive verdict has been reached in this matter.