Fake Email Knocks 3% Off Aapl

[nikster]

This must be the mother of all pump and dump schemes - somebody managed to send an email to Apple employees which claimed to be internal Apple information and said the iPhone would be delayed until October.

Sure enough, this email leaked out to Engadget in no time, which posted it

http://www.engadget.com/2007/05/16/iphone-...n-until-januar/

and AAPL lost 3% of its value almost immediately.

AAPL has since recovered, but that was certainly a new level of pump and dump scheme. Usually pump and dump - the manipulation of a stock price by sending out fake information, usually emails, blog posts etc - only affects small cap stocks, stocks that have almost no trade volume.

Moral of the story: Don't believe anything you read on the internet And most definitely don't put your money into it