Ming Mei Xu, CFA, who is a well-known analyst issues a buy recommendation on a small-cap stock. Xu shares her recommendation with the public two days after communicating the recommendation with her clients. The public dissemination leads to a significant increase in the stock price. Trevor Thomas, CFA, one of Xu's clients, buys a large position in the stock. Thomas sells the entire position for a profit a month later. His action leads to a significant decline in the stock price. Has the Standard relating to market manipulation been violated?