What Do You Do If You're The CEO Of A Company Touted In A Pump-And-Dump Stock Scam?
from the sell! dept
It's already been well documented that there really are a lot of idiots out there who buy stock recommended in spam messages. They all lose money when the spammer (who buys earlier) then sells, but apparently the pump-and-dump stock spam concept still works, despite it being around for many years. However, there is another side of the story that's rarely covered. What do you do if you actually work at one of the companies touted in a stock spam scam? Some people naturally assume that these companies are in on the scam, but that's often not the case. Spammers make money either way. So, for legitimate companies, it's become something of a hassle to find their stock (which usually is already in some sort of trouble) suddenly bounce around due to a spam onslaught. Of course, it would seem like it really shouldn't be that difficult to track down who's responsible for the spam. You just need to follow the money and find out who bought the stock right before the spam and then sold right after.