Pump and dump still works

[Wazoo]

http://weblog.johnlevine.com/Email/morepump.html

Once again, they show that there are small but statistically significant price jumps on the day that a stock is touted, so that a spammer who has bought the stock a day or two before will make money. Surprisingly, tout spam was more effective in 2005 than 2004, which suggests that spammers learned to select stocks and suckers more effectively, and that the suckers will never learn.