The scammers are about to make a hefty profit with the aid of a pump and dump spam run
Conrad Longmore of Dynamoo’s Blog provides another example that shows that the old pump and dump spam can still be effective.The expert has spotted a new spam campaign that’s designed to promote stock from a company called Monarchy Resources, Inc. (MONK).
The spam emails inform recipients that they can make an easy profit by purchasing Monarchy Resources stock now that it’s sold for a small price.
As Longmore highlights, the stock has been trading since June and up until the beginning of August it has been around $1 (€0.75) per share. Since the beginning of August, the price dropped to $0.10 – $0.20 (€0.07 – €0.15) per share.
According to NASDAQ, on August 16, someone bought 209,400 shares at $0.20 (€0.15) per share. However, after the spam campaign was launched, over 526,000 shares have been purchased so far, presumably by the individuals who fell for the “get rich quick” promises from the spam emails.
This will likely increase Monarchy Resources’ value. Once this happens, the scammers quickly sell their shares and they make an easy profit.
Everyone else who has invested in this company loses their money.
Beware of such scams! Here are a couple of spam email samples:
Subject: Pick Of The Week... Do Not Miss Out This Time!“Make easy $15'000 Monday!!! Hello, want to receive $15'000 by next Friday? You would receive lot more if you get this hot stock on Monday. The stock symbol is: M_O N_K. It's Monarchy Resources, Inc.. It sells under 48 cents, but it should see $1'80 shortly!
Purchase shares of M_O N_K on Aug, 19 below 48 cents and multiply your cash! It could be awesome to get $15'000 by Friday. And it's very easy to receive. On Monday, Aug 19, 2013 order 43'000 shares of M_O N_K and get over $15'000 by Friday”
Subject: Walgreens News!!!“Make easy $12'000 now! Hello, ready to pocket $12'000 by next Saturday? You would receive lots more if you order this undervalued stock on Monday. The company symbol is: M O N K. It's Monarchy Resources, Inc. It goes under 40 cents, but it could settle $1.90 promptly!
Get shares of M O N K on Monday, Aug 19th, 2013 under 40 cents and quadruple your investment. It can be amazing to earn $12'000 by Saturday. And its very easy to do! On Aug, 19 trade 21'000 shares of M O N K and get over $12'000 by Saturday.”