[funsec] Pump & Dump spamming works
Richard M. Smith
rms at computerbytesman.com
Thu Mar 8 14:00:28 CST 2007
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.
SEC Suspends 35 Small Stocks In Crackdown on Spam Hyping
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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