http://news.bbc.co.uk/1/hi/technology/5284618.stm
Spam messages that tout stocks and shares can have real effects on the markets, a study suggests.
E-mails 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.
The study recently published on the Social Science Research Network say their conclusions prove the hypothesis that spammers "buy low and spam high".
Spam messages that tout stocks and shares can have real effects on the markets, a study suggests.
E-mails 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.
The study recently published on the Social Science Research Network say their conclusions prove the hypothesis that spammers "buy low and spam high".
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