Spam attack aims to push company stock

Antivirus specialist Panda Software said that it has detected "massive amounts" of spam that are distributed to push sales of stocks of West Excelsior Enterprise. The messages try to convince recipients to purchase the company's stock over the next five days. If successful, the spam attack could result in an increase of the value of West Excelsior's stock.

Panda said that it appears to be a "highly organized attack" in which several waves of spam are coordinated. The effect of the emailing is unclear at this time: West Excelsior' stock, which is traded under the OTC symbol WEXE, shows a jump of the firm's stock on Monday of this week from $0.95 to $1.13. The stock peaked on Tuesday at $1.18 on Tuesday, but sine then has lost dramatically in value and currently trades for $0.88. According to Panda, the first wave of the spam attack was sent out on Friday.
Spam attack aims to push company stock | TG Daily

Linked by shanmuga Friday, 17th November 2006 1:36AM