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Re:Pump & dump for PHYA

(Score:5, Informative)

by cashman73 (855518) on Thursday December 21 2006, @07:08PM (#17331944)

Stock ticker PHYA belongs to Physicians Adult Daycare, Inc. They recently put

out this announcement [yahoo.com] saying that they have nothing to do with the

email spammers, and are trying to catch them.

Basically, the way this scam works is that the scammers buy a bunch of

worthless stock (as in a few cents/share), then email fake stockbroker advice

websites and fake advice emails to people, trying to get them to buy the stock.

When the stock is worth a decent amount of money, the scammers sell and leave

everyone else that bought into their so-called, "advice," with worthless stock.