Friday, August 10, 2007 0 comments ++[ CLICK TO COMMENT ]++

Story on those pink sheet spam e-mail

The Globe & Mail has an interesting article on those spam e-mail touting stocks. Supposedly, the greatest promotion of a stock occurred recently with billions of e-mail being sent.

Over the past two days, more than a half a billion e-mails have landed in inboxes around the world touting obscure little Prime Time Group Inc. of Branson, Mo., according to transmissions tracked by international Internet security consulting firm Sophos Inc. That makes Prime Time the subject of perhaps the most widespread Internet e-mail stock-pumping scam in history.
The sad thing is that people actually fall for this. I have started to look at OTC, Pink Sheet, and TSX Venture stocks lately (I used to avoid them before) and this is something one needs to keep in mind. If you invest based on some fundamentals and check a long term chart of a stock, one should be able to weed out the bogus spikes. It also helps if one tracks these microcaps for months before actually purchasing them. That way, you can get a handle on the trading pattern and know if something is artificially high at the present moment.

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