[Dshield] Is this common : Fake stock spam ?

Joe Matusiewicz joem at nist.gov
Fri Aug 26 14:04:10 GMT 2005

At 03:40 AM 8/26/2005, Leeuwen, Allan van wrote:
>Hi list ...
>This is the first time I have received spam that tries to promote a
>certain stock. I'm sure it's from a company that's about to go bankrupt
>(hence the 0.02c per share) or a completely non existing company. How
>can they get a non existing company onto the stock market though ??

They're called penny stocks...I've been getting this stuff for years.  Our 
fax machine gets a bunch of them plus super vacations at Disney World for 
$99.  The stock scam is called "Pump and Dump".  The sender owns some of 
the stock.  The trick is that the company has low market capitalization so 
that relatively small purchases in the stock will cause a large increase in 
the price.   Then the spammer sells.  I've never seen any these stocks 
going for more that $.50...but I haven't looked at any in a while.  If they 
get past my spam filters I delete them as soon as I look at the subject line.

-- Joe

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