Tag: stock spam

Biggest Pump-and-Dump Scam Ever Spikes Spam 445%

Headline courtesy of eWeek

According to various reports, including a good one from eWeek, there was (or still is) a huge stock pump-and-dump spam attack going on.

Editor’s notes: It’s been proven – you can’t win paying attention to stock spam. And for those who don’t even know what stock spam is, there is plenty to educate you here. I personally haven’t received a single piece of evidence of this purported spike – in other words, I’ve received no stock spam as of late. I’ll just thank GoDaddy for that, and move on.

Spamroll’s Friday Computer Quiz

If you buy the idea that a little outfit named L Computers is about to release an “8-way processing professional mobile computing design,” what do you do?

A) Throw away your Quad Core MacPro.

B) Jump for joy, as there is finally a computer available that will run Vista.

C) Call Jonathan Schwartz and ask him if he is ever going to open source Java.

D) None of the above.

Answer after the jump.
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Spam levels almost double

Spam levels are up by roughly 80% over the past few months, and experts say don’t worry. It is only going to get worse.

All I can say is that I have been receiving increasing levels of stock spam, all plain text with a simple “hi” subject line. It usually comes in bundles, all promoting the same dead issue.

If it isn’t going to stop, so be it. Maybe I’ll find a gem in the rough for my portfolio.
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Stock spam has gone way too plain text

Damn stuff gets through even my ninety-four filters…

Example:

Subject: Notice from livejournal forum
Date: Mon, 30 Oct 2006 21:45:40 -0060
Message-ID: <01c6fc6c$be0676c0$6c822ecf@hnof>
MIME-Version: 1.0
Content-Type: text/plain;
charset=”iso-8859-1″
Content-Transfer-Encoding: 7bit
X-Priority: 3 (Normal)
X-MSMail-Priority: Normal
X-Mailer: Microsoft Office Outlook, Build 11.0.5510
X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2800.1409
Thread-Index: Aca6QY6047YJ13PTKNHPYQ6SLL7828==

The accumulation of positions by those in the know has shot
A_U_N_I up 33% in a few short days. We hope you all got in
early like we told you to, and are enjoying your good fortune.
But even if you didn’t don’t worry because the big announcement
has yet to be made. Monday, October 30 may be your last chance
before this thing triples. Don’t hesitate.

Price: O.85
Projected: 2.3O
Rating: 5/5

This is the break you’ve been waiting for! Spice up your
holdings with A_U_N_I and WIN!

Poor sap doesn’t even know I’ve already sold my A_U_N_I after receiving the great tip from the first twelve “sources.”

Scammers get brazen with stock spam

Most everyone has seen stock spam in their inbox. It is the plain text stuff that sneaks by the filters, telling you about how this or that company is about to explode in value. You check the ticker, only to find it is now on the pink sheets (and usually moved there just a few days before you recieved the spam).

The scammers know the word is out. So what do they do instead of relying on suckers to pump up their holdings so they can dump? They approach the trading companies, offering to pump up their stock in return for a fee.

I guess part of this is playing of the greed of a company CEO who went public with a dream, only to watch said dream go spiraling down the tube. The scammers risk being reported for their approaches as well, but I doubt they care too much.

Winning the stock spam battle

BBC News reported on a new study which suggests stock spammers are actually winning at their game. Of course, everyone taking their tips make up the other side of those trades. Hint hint – someone else is losing.

It is a damn shame it is so difficult to borrow those penny stocks. 6% pops on two day short covers would be a great little meal ticket.

Need a fellowship? Here’s some stock spam.

A paper was just released that analyzes the effect stock spam has on the financial markets.

The abstract says that stock spam does effect trading, at least in the short term. Uh, isn’t that the point of stock spam – get the suckers interested in the stock so the spammer can dump it on them? Common sense would tell you that if you send out enough spam mentioning a stock that has an average daily trading volume of 10 shares, the activity is bound to go up. Now we know it with empirical certainty.

The positive – we didn’t need a research grant to show us that trading on spam is a great way to lose money.

The Bulls are buying SPAM

It is all about the money. And of course, the distribution. We know phishers chase the cold hard cash, so why shouldn’t their slightly less sneaking pure-spam brethren?

You have mortgages, pharma and porn as the norm, but what was once a big deal coming across the fax, is growing again in popularity across the web. Yes, spam-based stock scams are again on the rise.

Could this be a new leading indicator that the stock market is headed north once again?