This article reports on a study in which data on the number of unsolicited commercial emails (spam) promoting the purchase of the stocks of specific companies was compared to changes in the stock's price in several ways. Spam created a short-term rise in the price of the average stock in the form of a short, damped oscillation, followed by significant downturn several days later. Models of message transmission strategies based on the frequency of sending isolated two possible marginally successful strategies.
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