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March 26, 2007SEC Gets Tough with Stock Spammers
I have to admit - I don't understand spam. As a means of reaching buyers, it must be incredibly ineffective. Has anyone reading this ever purchased anything from spam they've received? I didn't think so.
There's been a war against all kinds of spam - stock spam, meds/viagra spam, porn spam.... Now at least with regard to stock spam, the SEC has joined the act. They are getting tough with companies that push their penny stocks through spamming. (any surprise, these are penny stocks?)
As part of Operation Spamalot, the SEC suspended trading for the securities of 35 companies that have been the subject of recent spam email campaigns. These spam campaigns will often tout these stocks, seeking to entice investors with email headings like Make Money Quick or Ready to Take Off. You can read about it in the official SEC press release here.
I'm encouraged because the answer to spam and spyware isn't just technology but also to remove the financial incentives and create financially punitive measures.
Posted by andreyee in
Spam & Spyware
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