Stock Spam
Pump and dump schemes for penny stocks based on spam mails were quite common in the years 2006 and 2007. Nowadays, however, it seems like these schemes are over and I receive such mails only very seldom. One recent example of such a scam mail is:
Please note that I modified the mail text to increase readability.
Such schemes work in practice and spam mails can actually influence the stock market as we showed in a study. This works since the quote of a penny stock can be influenced with a relative low number of trades.
Recently Sophos blogged about a spam campaign in which the mails contained a text about the downtime of Amazon. They theorized that these spam mails are used for shorting the Amazon stock for Short and Distort scams. I doubt that this is true - especially given the fact that more than five million Amazon stocks are traded per day...
Full link to study: The Effect of Stock Spam on Financial Markets
Now see for yourself.
Corporation: Angstrom Microsystems
Symbol OTCBB: agms
Suggested: Buy/hold
Monday close : .400
Shares traded: 331,485
Excellent release last week and investors are noticing and volume is up.
This is the beginning of great things, sales are up and deployment is increasing Angstrom Microsystems will blow you away.
Move before it's too late, obtain this stock NOW.
Please note that I modified the mail text to increase readability.
Such schemes work in practice and spam mails can actually influence the stock market as we showed in a study. This works since the quote of a penny stock can be influenced with a relative low number of trades.
Recently Sophos blogged about a spam campaign in which the mails contained a text about the downtime of Amazon. They theorized that these spam mails are used for shorting the Amazon stock for Short and Distort scams. I doubt that this is true - especially given the fact that more than five million Amazon stocks are traded per day...
Full link to study: The Effect of Stock Spam on Financial Markets
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