Spammers manipulate stock markets

Spam messages that tout stocks and shares can have real effects on the markets, a study suggests. Emails typically promote penny shares in the hope of convincing people to buy into a company to raise its price.

People who respond to the "pump and dump" scam can lose 8% of their investment in two days. Conversely, the spammers who buy low-priced stock before sending the e-mails, typically see a return of between 4.9% and 6% when they sell. BBC NEWS | Technology | Spammers manipulate stock markets

Linked by shanmuga Saturday, 26th August 2006 3:53AM