funsec mailing list archives
Pump & Dump spamming works
From: "Richard M. Smith" <rms () computerbytesman com>
Date: Thu, 8 Mar 2007 15:00:28 -0500
Wow, almost a 150 fold increase in share volume after spam barrage. It also looks like someone can make money on P&D stocks, if they get in early and then get out quickly. In this case, there was a 2-day window to "invest" and then unload. Richard http://online.wsj.com/article/SB117337878583331180.html?mod=technology_main_ whats_news SEC Suspends 35 Small Stocks In Crackdown on Spam Hyping Associated Press March 8, 2007 1:48 p.m. ... In one case cited by the SEC, shares of Apparel Manufacturing Associates Inc. closed at six cents, on trading volume of 3,500 shares, last Friday, Dec. 15. After a weekend spam campaign, trading on the following Monday reached 484,568 shares and the stock climbed to over 19 cents a share. Two days later, on Dec. 20, it hit 45 cents a share. By Dec. 27, Apparel Manufacturing stock was down to 10 cents on volume of 65,350.
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Current thread:
- Pump & Dump spamming works Richard M. Smith (Mar 08)
- Re: Pump & Dump spamming works Nick FitzGerald (Mar 08)
- Re: Pump & Dump spamming works Sean Donelan (Mar 08)
- Re: Pump & Dump spamming works Nick FitzGerald (Mar 08)