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New twist on the old pump-and-dump stock scam
by Mordy 09:01PM Thursday Aug 19 2004
Stock scheme is being disguised as wrong number
By SHANNON BUGGS
Copyright 2004 Houston Chronicle

An old stock scam with a new gimmick is ensnaring investors and has pushed up the share price of a local biotech company, prompting the Securities and Exchange Commission to warn the public.

People checking their cell phone voice mail and home answering machines are finding a message from a woman who has apparently misdialed and, unaware of her mistake, left a stock tip for a friend.

»www.chron.com/cs/CDA/ssistory.mp ··· /2745163

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wilbur6244

join:2001-01-02
Liberal, KS

I got one. :)

Yep...I got this.. lovely wasn't it.. Wonder how many places it/she called! crap crap crap

atangel
Now What??
Premium
join:2002-02-18
Mount Vernon, NY

1 edit

Greedy Greedy

I'm always torn between feeling bad for the victim and realizing that it was their own greed that got them got.

Edit:
[snip]On Aug. 11, just under 380,000 shares of Power 3 Medical Products were traded, and the stock closed at $2.17. The next day, 2.34 million shares were bought and sold, and the stock closed at $2.85.

By Tuesday, the volume reached 5.69 million, and the stock closed at $4.38, more than double its price just four trading days earlier. It fell back 20.8 percent Wednesday to close at $3.47 on volume of 2.92 million.[/snip]

Jeez.....