09-03-2006, 12:17 PM
I heard a story last week about this last week on NPR -
Technology
Penny-Stock Spam Yields Profits -- for Some
All Things Considered, August 25, 2006 ยท A new study suggests that spam e-mails advertising penny stocks can have a real effect on the stock market. And someone is making good money as a result -- though it's not usually the recipients of the spam. When people respond to the e-mail by buying the advertised stock, it can bump up the price of the stock.
That's when spammers -- who bought the stock before they sent the email -- sell. Robert Siegel talks with Laura Frieder of Purdue University about her study.
http://www.npr.org/templates/story/story...Id=5711560
Technology
Penny-Stock Spam Yields Profits -- for Some
All Things Considered, August 25, 2006 ยท A new study suggests that spam e-mails advertising penny stocks can have a real effect on the stock market. And someone is making good money as a result -- though it's not usually the recipients of the spam. When people respond to the e-mail by buying the advertised stock, it can bump up the price of the stock.
That's when spammers -- who bought the stock before they sent the email -- sell. Robert Siegel talks with Laura Frieder of Purdue University about her study.
http://www.npr.org/templates/story/story...Id=5711560