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NFT: Penny stockers out there?

mattlawson : 3/30/2017 10:20 am
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?
when I had a lot more time i dipped into it a bit  
UConn4523 : 3/30/2017 10:37 am : link
I put 90% of my money in blue chips and the other 10% i played around with. The only penny stocks I ended up purchasing for marijuana stocks, I actually still have all my shares back from 2011/12 when I first bought them. I'm up a bit on them but I purchased them as a lottery ticket. At their highs I would have made about $10k but I didn't sell since i'm in it for a a lottery ticket type return. I realize the likelihood of that isn't next to zero but if/when the boom happens I hope the two companies i invested in are still around.

As a whole I wouldn't bother but you can always blow your money on worse things in life.
is next to zero  
UConn4523 : 3/30/2017 10:37 am : link
*
I have a few however not publicly traded as of yet.  
bigblue1124 : 3/30/2017 10:47 am : link
One I have high hopes for being that it filed for an IPO but withdrew it for reorganization purposes. With that said a lot of these are no different than betting in Vegas so I go into it knowing full well I may be throwing away money. I have also been doing a lot of research into PE funds albeit these usually take a lot more investment and risk from what I have seen.
Someone called me up the other day and pitched me Aerotyne  
Gary from The East End : Admin : 3/30/2017 11:16 am : link
Sounds like a good investment.
I was involved in one the biggest  
pjcas18 : 3/30/2017 11:28 am : link
pump and dump penny stock scams. Not involved as a perpetrator simply an innocent benefactor.

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.

RE: Someone called me up the other day and pitched me Aerotyne  
GMAN4LIFE : 3/30/2017 11:41 am : link
In comment 13411846 Gary from The East End said:
Quote:
Sounds like a good investment.


i got the same call. They are the next amazon. Look at their headquarters



RE: RE: Someone called me up the other day and pitched me Aerotyne  
AcidTest : 3/30/2017 11:45 am : link
In comment 13411888 GMAN4LIFE said:
Quote:
In comment 13411846 Gary from The East End said:


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.
Run away  
giantfan2000 : 3/30/2017 12:41 pm : link
Unless you are part of the pumping
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
My take is that the overwhelming majority  
Deej : 3/30/2017 12:59 pm : link
are scams and/or vestigial nubs of once-promising companies that are just caught being a public company. Made sense at a $100+ million market cap, but at $10 million they're just hanging around, incurring outrageous costs for public market compliance, board pay, etc.

Moreover, I think if there were good penny stock plays that the brilliant p.e. funds and quants out there would scoop them up.
They're not universally scams  
Overseer : 3/30/2017 1:09 pm : link
that's just flatly untrue. Many are decent or better companies which have fallen on hard times, either in the short or long term.

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.
If one classifies penny stocks  
Overseer : 3/30/2017 1:11 pm : link
as those under $5, you can include any number of companies in the past 10 years.

Including CBS.
RE: Run away  
mattlawson : 3/30/2017 1:13 pm : link
In comment 13412006 giantfan2000 said:
Quote:
Unless you are part of the pumping
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.


RE: If one classifies penny stocks  
pjcas18 : 3/30/2017 1:25 pm : link
In comment 13412052 Overseer said:
Quote:
as those under $5, you can include any number of companies in the past 10 years.

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.
I'm talking under 2 dollars  
mattlawson : 3/30/2017 1:30 pm : link
Technically by my brokerages constitutes highly volatile and risky investments. Most are under a buck.
One of my only urges to go cheap  
Deej : 3/30/2017 1:51 pm : link
was in 2009 when Citibank's stock fell under $1. It struck me that it was too big to fail. Had I bought it would have returned 500+%
best off shorting stocks now  
spike : 3/30/2017 2:04 pm : link
that the market is in bubble territory
I remember buying  
Kev in Cali : 3/30/2017 5:28 pm : link
Las Vegas Sands years back between $1-$3 per share.....had over had 4k+ shares....shoulda woulda coulda....still did well with those trades.

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.
Blue Horseshoe loves Aerotyne  
Jim in Fairfax : 3/30/2017 5:57 pm : link
.
RE: One of my only urges to go cheap  
mattlawson : 3/30/2017 7:16 pm : link
In comment 13412106 Deej said:
Quote:
was in 2009 when Citibank's stock fell under $1. It struck me that it was too big to fail. Had I bought it would have returned 500+%


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
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