swsamurai
Premium
join:2002-04-17
Bakersfield, CA
clubs:
 ·Bright House
| Investing
I actually already knew about KoKo Petroleum through my brother-in-law, who works for an oil company. I invested a while back and actually did get to take a little advantage of the spike in the trade price. But I am in for the long haul.
I get these messages on my cell phones now too. Talk about manipulating the market. I wondered how long it would be before the SEC tried to drop the axe. Not that it will do to much. |
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T1 Rocky
join:2002-11-15
Dallas, TX
·Time Warner Cable
|  Another angle
I was under the impression that the companies were the victims here too. The way I thought the scam worked is someone (and that can be absolutely anyone) buys a bunch of the stock and then hires a spammer to spew it for a week then they sell it. The company gets hate mail and is flooded with calls from people thinking the company is the spammer.
So what's to stop an unethical company from spamming in favor of their competitor then giggleing as the FCC hassles/fines/suspends them?
I don't have a NYTimes password so I didnt read the story so maybe I'm missing something.
The problem is spammers will send out a million emails for $100. With those odds, some weasil is going to take them up on it. |
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swsamurai
Premium
join:2002-04-17
Bakersfield, CA
clubs:
·Bright House
| A company would not want to do that to itself because the resulting blowback would cause financial woes. The company itself you really gain nothing. The stock may start at say $.12 and spike to $1, but then when the profit takers get their share, the price could go down below the original start point.
I picked up about 500 shares of Koko when it was at something like $.60 a share. Then the spammers hit and it went to $1.40, or so. I sold a few shares but kept the majority. Now the stock is down to like $.09 a share. I am holding onto it hoping... and hoping...  |
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