The majority of pump and dumps are run by stock promoters who advertise online to get people to sign up to their emails lists and then follow the law (at least the CANSPAM law) only sending the stock promotion emails to those who sign up. But spam pumps are not uncommon. Some spam pumps may at least have the veneer of legality by obtaining another pumper’s email list and offering a way to unsubscribe. Some spam pumps are a bit more blatant. VIBE was pumped via spam email from a variety of different fake or free email addresses over last weekend and Monday and Tuesday. Unlike most spam pumps, it even had pretty graphics.
While VIBE did move up impressively on Monday morning, like most spam pumps, however, the stock soon began to drop like a rock. Below is a two-day chart with 5-minute candlesticks.
(click to embiggen)See the pump image below:
Disclaimer: No relationship with any parties named above and no positions in any stocks or funds mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
VIBE spammers were (I believe) the same spammers who also pumped FTGC around 9/11/2011 and HRTE around 6/6/2011.