Pumping and Dumping All the Way to the Bank

StockJockey's avatar
by StockJockey
Tuesday, August 29, 2006 - 7:27 am

You know all that spam you get pushing the latest hot penny stock? Turns out it’s a rather profitable, albeit illegal, racket. Two British profs recently analyzed over 75,000 unsolicited emails and found that spammers typically make between 5% and 6% by pumping and dumping while the recipients tend to lose slighly more--plus they pick up the transaction fees.
Spammers Manipulate Stock Markets [BBC]

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