AFSCME 3357-HOF'S BLOG

Operation Spamalot

The SEC has finally taken some action regarding stock spammers, suspending trading in 35 stocks that have been spammed. Since the spammers hide their identities, there's not much you can do about them. Finally they are taking action against the companies who are paying to have their stock spammed. Actually, the SEC must not have direct information of payments, otherwise more severe action would have been taken. A third party could "pump and dump" the stocks without a direct company affiliation, but you never know what's going on until you investigate it. I became acquainted with the penny stock markets about 18 years ago. I can tell you that most of these stocks have very few shareholders, so if you follow the shares, you will eventually get to the culprits. For more information, see this article at the great Spamnation blog.