Pump and Dump Stock Promotion Schemes

Pink sheet stock promoters have found a new more efficient way for reaching the gullible and greedy – zombie spam.

According to an assistant professor of finance at Purdue Laura L. Frieder and Jonathan L. Zittrain professor of internet governance and regulation at the Oxford Internet Institute, “relationships between spammers and virus authors have caused millions of virus-infected personal computers to be harnessed as ‘zombies’ to send spam further lowering its cost.”

I met professor Zittrain while sailing the Queen Mary 2 from Southhampton to New York in the summer of 2005. I attended his University of Oxford continuing education series along with others including actor Richard Dreyfus. He showed me how to make a free voip phone call from the middle of the North Atlantic Ocean using Skype.

The professors have published a study: Spam Works: Evidence From Stock Touts and Corresponding Market Activity

Next time you receive a hot stock tip in your inbox, thank Bill Gates.


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