New stock scams coming in PDF attachments

So here’s the latest stock scam spam email I’ve just started noticing (and I’m only noticing it because it’s so “clever” that it bypasses both of my spam filters, whereas the “traditional” stock scam emails don’t). I’m getting stock scams in the form of Adobe Acrobat (PDF) attachments on otherwise blank emails. There’s no message body or subject, and the usual randomized fake sender identity. I must admit, the blank subject emails are rather noticeable, as is the fact that they come with attachments. So I did end up looking at one, though of course I didn’t trade on it either way, which is something I’ve long been suggesting.

This particular stock scam is for a company called Latitude Industries Inc. (LTDI). The company makes powerboats, but they really haven’t been doing well recently. Their stock is down from a high of $3.50 as recently as December to its current price of $0.11. In other situations, it might make a good (risky) investment — that is, you’d go into it full well knowing you could lose everything you invested on the off-chance that it rebounds back to somewhere near its higher peaks, yielding a huge profit. But with the spam activity surrounding this stock, I wouldn’t even consider it. It’s being heavily manipulated by spammers who already own large numbers of shares in the stock or who have placed a large number of shorts on the stock, and there’s no way to really know which way they intend it to go. Trading this, either selling short or buying shares, would be like playing slots at a casino, only with worse odds. Don’t fall for it.

And I am still amazed at the numbers these people have no compunctions whatsoever about making up. The 5-day “target price” is listed at $0.50. Anyone who knows anything about the stock market knows that there’s no such thing as a target price. The market reacts nearly instantaneously to information. If somehow it is known that the share price of a stock is guaranteed to rise to a certain value in five days, then the share price will rise to that value in minutes as everyone furiously buys it. If there really was any validity to this claim of a $0.50 price target in five days then the stock would already be trading at $0.50.

And you can check out the stock scam PDF for yourself if you’re curious. I received four separate copies of these in my Inbox, not including all of the copies that were variously caught by my two spam filters.

See my other posts on stock scams.

One Response to “New stock scams coming in PDF attachments”

  1. Jack Payne Says:

    Who is opening attachments from strangers anymore? I’d thought this was more or less a thing of the past. Anyway, the best, simplest stock scam is the old 80-40-20. This is usually done through names compiled from phone books, lists, and directories. (I recently wrote an article on this, which had good play on the internet.) It’s probably only a matter of time before some enterprising con man will fit this one to the Internet.

    –Jack Payne