A brief article in one of my local papers underscores the risks of stock tips that arrive via spam.
The article reports on an experiment by Joshua Cyr, a New Hampshire web developer. Cyr set up a site to track the value of 37 penny stocks touted in spams he received early this past summer.
Cyr's site apparently pulls live stock-price data from Yahoo, and computes the gain or loss on each stock, assuming someone had bought 1,000 shares.
While five of the stocks have shown gains, the rest have more or less tanked. So far, Cyr's hypothetical investment of $17,405.00 would have netted him a net loss of around $8,200. Spam Kings Blog: SpamStockTracker.com
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