Monday, March 12, 2007

The Stock Market,Spam and Your Money

The Stock Market,Spam and Your Money

I wanted to add a short editorial to this article, as though I found it interesting this is not new. This has been going on for a very long time. The thing that does surprise me though is that people are still falling victim to this old pump it and dump it scheme with stocks. I'm only left with the thought that it work's because there is no accounting for the greed of man.

Some other thoughts arise as well, as the writer points out in his Blog the securities commission has opened up the door for a new crime against company's and stockholders, where the people that now perform the pump and dump Email spam can now extort directly from the company. There is another question that comes to mind as well, it may not just be spammers that are doing this but some company's could also be very well doing it an angle that is not explored fully , in a way it's the ultimate inside trade.

One thing for sure though has me thinking as we have become a worldwide economy, with worldwide trading in stocks and commodities, who and what can possibly track all of it, if some company's or people want to commit these acts. So in the end the message is be careful where you put your money, and don't let greed rule your common sense.

How lucrative is pump-and-dump spam? by ZDNet's Ryan Naraine -- Are pump-and-dump spammers really making money from hyping penny stocks in e-mails? Paul Moriarty has the answer and it's an eyebrow-raising sight. Over the last month, Moriarty, director of product development for Internet Content Security at Trend Micro, has been running a virtual portfolio of selling short on stocks found during spam runs. After [...]