<< Most of the manic posters of the early days moved on to their next loser already. >>
Hmmm, I don't know, Rudy, I thought there were still quite a few left. ... :)
I snagged what seemed like the most relevant paragraph from the link you posted to the nasaa article on "Cyberspace Fraud and Abuse" for the thread to enjoy:
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Through a combination of puffery, speculation, and breathless claims of supposedly inside information about pending announcements, product innovations, and new contracts, the schemers seek to run up the price of the stock, which starts rising as unwary investors read of the "great opportunity" and buy shares. In response, the insiders take their shares ("bought at the low, "pre-hype" prices) and sell them into the rising market. As interest builds, dozens of messages may be posted about the stock. When the hype-fueled stock price falters, the promoters may blame unnamed short sellers. Sometimes, losses suffered by the unsuspecting are made even worse by ruthless promoters who urge victims to "dollar average" and keep buying shares, even at the falling prices. Talk of the stock then disappears from the board. Investors who are left holding the bag can do little more than post plaintive messages: "Whatever happened to Company X?" (See , "How a Typical Cyber-Scheme Works.") |
