Just curious if there are any penny stock enthusiasts out there that invest in these risky stocks under 2 dollars. I have a few that I've been watching and I've actually pulled the trigger on a couple just to see what happens. Nothing more than a few hundred dollars. Has anyone here had success with them? How do you research them, what are you looking for before you invest?
As a whole I wouldn't bother but you can always blow your money on worse things in life.
a company called ECNC at the time, e-connect.
they allegedly had some device that allowed retailers to accept electronic payments. Maybe 1998 or 1999 time frame, could have been 1997.
I was just out of college or a couple years out and early in my career.
I think I bought it at .06 or .20 - somewhere in that range.
It went up to $20 (maybe even higher in a very short time frame (meteoric time frame) - like a couple days) - it was on CNN money or whatever it was, I had guys I graduated with working as runners on wall street and they thought I was a genius (one of my buddies was the one who found it on raging bull) and it went up all on fake news and raging bull posts.
I don't think they ever even had a product, it was all BS.
I didn't sell at the peak, trading was halted and it came back down very quickly too. I got out around $6. so many people heard about it or read about it and bought all the way up to $20 and lost a ton of money.
I also had similar investments in some other penny stocks like e-connect, and I learned pretty quickly, especially in the OTC market, it's almost all a scam.
if it's not on NASDAQ or NYSE I don't touch it anymore, though I did come out ahead I felt like it was 100% luck and it's all pretty shady.
i got the same call. They are the next amazon. Look at their headquarters
Quote:
Sounds like a good investment.
i got the same call. They are the next amazon. Look at their headquarters
In San Francisco, that's a $500K house.
penny stocks are a scam..
if you want to speculate on stocks .. just learn technical trading and buy weekly Options of high beta stocks and indexes
Moreover, I think if there were good penny stock plays that the brilliant p.e. funds and quants out there would scoop them up.
Example would be Pier 1 (PIR). Got hammered in the recession down to a dime per share. The risks of bankruptcy turned out to be overblown and it recovered to the tune of 23000% and is now doing reasonably well.
That's somewhat of a rare case, but to say they're all Aerotynes and/or scams is simply demonstrably false.
That said, it is a sensationally risky way to "invest" and should not be done with anything other than dough one is 100% okay with losing. I fully abstain, personally.
Including CBS.
penny stocks are a scam..
if you want to speculate on stocks .. just learn technical trading and buy weekly Options of high beta stocks and indexes
That's basically what I'm talking about. Looking at tech indicators and buying not well know stocks that are dragged down multiples or for whatever reason are in the shitter.
I'm not talking about just buy low / sell high either. Would I have loved to had an extra 10,000 when the BP oil spill happened.
Including CBS.
I think technically under $5 and not listed on a national exchange. Stocks under $5 on national exchanges are not technically penny stocks.
I don't think anyone said literally every single penny stock is a scam, but many are, and they are very ripe for manipulation.
Risky hearsay penny stocks???? stay away...know what they do and know what they produce. I lost some money, lesson learned and haven't touched em since.
Yeah I remember. I have a family member that works for Citigroup and I thought to myself if only I had 10,000 laying around.
Same thing with BP