Penny Stock is a stock that trades at a comparatively low price. It can be easily buyable from the market. But in order to put in a sell you have to gather more information about this stock as it is a high risk type of trade. Otherwise you may get regret after some time.

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I thought I should make people aware of this stock type fax scam. It's where a person purchases a whole block of penny stocks, or gets them as a fee from a listed company.



The person then sends out a whole bunch of "press release" type faxes to get people to make purchases of the stocks.



If the stock starts at 10? and he sells off 1,000,000 shares at 15?
the seller makes a profit of $50,000.



The problem is that the stock is usually worthless and more than likely won't increase in value. People are just buying on sheer excitement and speculation.



Out of interest, I've watched faxes that have come across my desk. They have risen 300% the first day and then plummeted to less than the original value after a few days. The person that makes the money is the one doing the scam.



It's nice to see the SEC clamping down on this type of stock / fax scam.

Stock Scammers Charged

• British Columbia
? Alberta
? Saskatchewan
? Manitoba
? Ontario
? Quebec
? Newfoundland
? New Brunswick
? Nova Scotia
? Prince Edward Island