Penny Stocks

[6StringSamurai]

I am curious about 'Penny Stocks" and if anyone here dabbles in these or has any advice pro or cons? pitfalls? Respectable websites to do trading?

Thanks in advance for any advice.

 

[vi edit]

Call me jaded or paranoid, but really the only people that make money off the pennies are people with some form of inside knowledge over the lay trader. Pennies are so susceptable to pump and dumps and short term swings that you really have to be in before the momentum and out before it fizzles. You could argue that any stock is like that, but a normal NYSE or Nasdaq stock will rarely see the votility of a penny.

I equate it to the wild west of stock trading. It is not investing by any means. It is nothing more than gambling for most people. The companies don't have to file the same reports. They can go days before shares trade. They are very thin in that there are limited quanities of shares so it's easier to manipulate swings. They don't have a good quoting system either so can you can miss out on opportunities before they occur.

Definitely not something that you go into unless you can afford to loose every "penny" you put down.

 

[kranky]

I completely agree with vi_edit. Stay away.

 

[Specop 007]

Once bitten twice shy. It'll be a looong time before I dabble in that again.
Bought a good number of shares at around a buck a share. It proceeded to haul ass down to around .55 cents a share. I held it and held it and held it. Finally dumped it.

Turns out it would have been a nice winner had I just kept holding, but thats always the catch isnt it, knowing when to hold and when to fold.

QSC was the ticker. I bought beginning 04, sold middle of 05. Murphys Law, she went up. Damn you Murphy and your penny stocks.

 

[IceBergSLiM]

you ccan likely make alot of dough but you need to research the hell out of the company, the industry, its competition its market etc....

 

[UDT89]

i made a nice piece of coin with ACTC when they had the stem cell news. key is selling at the right moment.

right now im holding LYJN.PK and KING.PK

to me i'll hold king forever.....they have a good business and the right people running it. plus they recently cancelled a reverse split, so thats positive.

 

[killface]

A few years ago I made some good money on a couple of different stocks. Well, I invested like $100 and made about $500 in a few months. The penny stock tip sites are sesspools, so you really do have to do your DD (due diligence).
You can make money with them, but you have to do your research and diversify.

 

[tweakmm]

Vi said it very well.

As with most things involving investing, if you have to ask...

 

[Brackis]

Better off bonus hunting at online casinos unless you are throwing down thousdands on a stock.