Spammers Manipulate Stock Markets?
Spam messages that tout stocks and shares can have real effects on the markets, a study suggests.More here.
E-mails typically promote penny shares in the hope of convincing people to buy into a company to raise its price.
People who respond to the "pump and dump" scam can lose 8% of their investment in two days.
Conversely, the spammers who buy low-priced stock before sending the e-mails, typically see a return of between 4.9% and 6% when they sell.
The study recently published on the Social Science Research Network say their conclusions prove the hypothesis that spammers "buy low and spam high".
posted by Fergie @ 8/25/2006 11:58:00 AM
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