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COPYRIGHT 2005 The Dallas Morning News
Byline: Will Deener
Oct. 27--The constant stream of spam e-mails that push obscure penny stocks with vaporous hyperbole can wear down even the most conservative investor.
If Diddly Squat Inc. is priced at a penny per share, a rise of just one penny will double your money. It's a sure thing! Or it could be, maybe. Hey, why not?
If you've ever wondered, in a moment of weakness, if these spam-pitched penny stocks really deliver, here's your answer:
No, they don't.
A study of 37 penny stocks touted in more than 1,000 spam e-mails during May and June shows that only two have risen in price since. Savvy Software, a web content management company in Portsmouth, N.H., is tracking the returns at www.spamstocktracker.com.
A portfolio built around these can't-miss stocks has lost nearly half its value.
"I got to wondering what happens to the average Joe who follows the advice of these hot stock tips," said Joshua Cyr, chief of technology for Savvy Software. "What I found was that almost every single one of these...
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