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A new paper out by Laura L. Frieder, an assistant professor of finance at Purdue, and Jonathan L. Zittrain, professor of Internet governance and regulation at Oxford, details how those silly spam emails about hot stock tips work.

Entitled, "Spam Works: Evidence From Stock Touts and Corresponding Market Activity," the article details how the spammers make money. Guess what? They buy the penny stock, send out millions of emails touting the new stock, then sell into it when all the suckers start buying the stock. Doh!

The best day to sell? The day after the spam hits the internet. Amazing how that works, eh?

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