2007-06-06 10:52:40
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.