There are many fascinating aspects of the SEC’s just-completed Operation Spamalot — its investigation into stock-spamming that has resulted in 35 companies having trading suspended. Among them, is there any common link among all (or some) of these companies, beyond the obvious, that they were on the receiving end of positive stock spam?
Nevertheless, my favorite aspect of Spamalot is the “Canadian Connection”. And what is that, you ask? Good question. Well, out of the 35 companies touted in stock spams who now (courtesy of the SEC) no longer trade, eight were either headquartered in Canada, or had offices there.
Damn Canadians. I always knew they were massing on the U.S. border for something, but who would have thought it was stock spam. Marginally more seriously, it is an interesting statement about the global nature of this problem, not to mention the continuing lax oversight of Canadian public companies.