adj. Relating to a company that announces a cutting-edge Internet product in an effort to raise their stock price.
Other Forms
On the morning of December 2, 1998, Cramer was doing his biweekly stint as a co-host of "Squawk Box," CNBC's popular morning show, and when the talk turned to Internet stocks Cramer insisted on calling many of them "Fraud-U-Net" stocks because they seemed wildly overvalued. He brought up a Phoenix company called WavePhore, whose CEO, David Deeds, was to appear on the program that morning. Cramer vowed that he was going to try "to get the truth out of the guy," which was that the stock, in Cramer's view, was badly overpriced.
—Howard Kurtz, “Risky Business,” The Washington Post, August 27, 2000
Another reason Wall Street is staying away is that the shadow of fraud-u-Net releases has proven long. It's a once-bitten, twice-shy scenario. Shares in Sharper Image (SHRP) are back down below $9 from $25.
—Cory Johnson, “No More Fraud-U-Nets,” The Industry Standard, July 08, 1999
1998 (earliest)
We have to see the continual unwinding of the .com complex before we can get to where we have to go.

Where is that? Where people feel that the good news is not in the stocks and buyers can can buy more. To where people feel like the froth is gone. Froth is hard to kill. I know that when I spoke negatively about the Fraud-U-Net complex yesterday on "Squawk" I had no idea that my life would be threatened and people would do everything they could to remove me as a guest from "Squawk."
—James J. Cramer, “Skimming Off the Froth,”, December 03, 1998