We design an experiment to examine strategic information transmission from a privately informed investor capable of influencing followers' investment decisions through a cheap-talk message. Confirming recent theoretical predictions, we find that a short investment horizon of a sender encourages credible information sharing among investors. Consequently, short-term senders can move prices through their messages, with the impact increasing in the transparency of the trading institution, while long-term senders fail to affect asset prices. The informational efficiency of asset prices is invariant to the sender's investment horizon.