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Author Topic: Penny Stocks  (Read 1228 times)

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greenEGnHAWGS

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Penny Stocks
« on: April 09, 2018, 05:21:58 pm »

Had any of yíall ever dabbled with penny stocks? I know itís high-risk/high-reward, but my bro in law has a friend who apparently has done well with penny stocks over the last 2 years, so I was wondering if yíall have any experience (good or bad) with them.
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HawgWild

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Re: Penny Stocks
« Reply #1 on: April 09, 2018, 05:59:30 pm »

I once bought a $60 stock that did a 1 for 20 reverse split and got down to $.10 pps before it disappeared. Does that count?
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greenEGnHAWGS

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Re: Penny Stocks
« Reply #2 on: April 09, 2018, 06:34:28 pm »

I once bought a $60 stock that did a 1 for 20 reverse split and got down to $.10 pps before it disappeared. Does that count?

Ha ha...considering youíre the only poster so far...Iíll allow it...
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HiggiePiggy

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Re: Penny Stocks
« Reply #3 on: April 09, 2018, 08:14:16 pm »

Closest I was ever to a penny stock was when I bought SXE at a 1.25. It dropped to 38 cents.  So I bought 1500 shares and I eventually sold at 1.23.  It got to over 3 bucks, but I didnít sell at that time.  Went back down to 70 cents then eventually got back to 1.23 then I sold.  About 2 months after that it was back to 3.

It is currently at 1.64.
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ricepig

Re: Penny Stocks
« Reply #4 on: April 09, 2018, 08:25:43 pm »

My Windstream stock looks like it's headed for penny status, that's about as close as I can come.
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widespreadsooie

Re: Penny Stocks
« Reply #5 on: April 09, 2018, 10:41:20 pm »

A penny stock purchase should never be high risk
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greenEGnHAWGS

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Re: Penny Stocks
« Reply #6 on: April 10, 2018, 08:03:59 am »

A penny stock purchase should never be high risk

Do you say this because you should only buy it when itís practically worth nothing (couldnít go much lower) or is there another reason why it shouldnít be high risk?
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McKdaddy

Re: Penny Stocks
« Reply #7 on: April 10, 2018, 08:59:57 am »

is there another reason why it shouldnít be high risk?


Lee Trevino said it well: "You don't know what pressure is until you play for five bucks with only $2 in your pocket."

That would be analogous to "high risk" penny stock investing.  Instead do so w/ money that is inconsequential (if one must do so at all).
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CampuspostmanHOG

Re: Penny Stocks
« Reply #8 on: April 10, 2018, 09:47:36 am »

I do some penny stock trading from time to time. It is usually with stocks that I have watched for years. The last few I traded were TOPS it just went through a 1:10 reverse split last month. It's not a buy right now. CBIS (this one is near a buy).

Do not use money that you can not afford to loose. It ain't easy. You have to catch the momentum at the right time and then get out. I've done ok with them. I wouldn't recommend it to anyone unless you know the stock well.
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greenEGnHAWGS

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Re: Penny Stocks
« Reply #9 on: April 10, 2018, 10:33:14 am »

I do some penny stock trading from time to time. It is usually with stocks that I have watched for years. The last few I traded were TOPS it just went through a 1:10 reverse split last month. It's not a buy right now. CBIS (this one is near a buy).

Do not use money that you can not afford to loose. It ain't easy. You have to catch the momentum at the right time and then get out. I've done ok with them. I wouldn't recommend it to anyone unless you know the stock well.

I basically thought about just taking some of my petty cash and playing with these cheap stocks for a while to see how it goes. Iíd never just jump in with any money that is needed elsewhere. Iíve been reading up on several stocks, but itís tough to know where to go for good info.

Iíd love to have a thread of like minded investors to just hash out ideas and thoughts regarding certain investments.
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Boardon Hamsay

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Re: Penny Stocks
« Reply #10 on: April 10, 2018, 07:47:43 pm »

I donít typically play with the penny stocks. I tend to be more of a best of breed stock investor and enjoy the fundamental and technical analysis that goes with picking stocks. In terms of speculative stocks, I tend to dabble mostly in the biotechs.
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widespreadsooie

Re: Penny Stocks
« Reply #11 on: April 10, 2018, 11:23:37 pm »

Do you say this because you should only buy it when itís practically worth nothing (couldnít go much lower) or is there another reason why it shouldnít be high risk?

Along the lines of what other posters said but that also applies to much more than penny stocks. The only reason I would get into a penny stock is because it's cheap so I would call it low risk on that fact alone. Now you can certainly make it high risk if you wish, by placing a large % of your investment funds in one. Now that would be high risk/high reward but highly unadvisable.
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CampuspostmanHOG

Re: Penny Stocks
« Reply #12 on: April 11, 2018, 10:30:49 am »

CBIS up 7% today, if it gets support, might be good for nice pop. Do your own due diligence. Might retreat some too. Keep an eye on it.

"Cannabis Science Issues First 2018 Guidance Report; 4/20 Court Date Set For Lawsuit Against San Joaquin County; Revenue Growth Through Acquisitions, Wholesale, and Retail Sales Channels All Multiply"
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greenEGnHAWGS

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Re: Penny Stocks
« Reply #13 on: April 11, 2018, 11:59:32 am »

I do some penny stock trading from time to time. It is usually with stocks that I have watched for years. The last few I traded were TOPS it just went through a 1:10 reverse split last month. It's not a buy right now. CBIS (this one is near a buy).

Do not use money that you can not afford to loose. It ain't easy. You have to catch the momentum at the right time and then get out. I've done ok with them. I wouldn't recommend it to anyone unless you know the stock well.

If you donít mind this noob asking, I understand what a reverse and forward split is and why a company would do it, but how does it effect the investor? Does it help or hurt your investment in that product?
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HawgWild

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Re: Penny Stocks
« Reply #14 on: April 11, 2018, 01:46:00 pm »

I can think of 3 stocks I've owned over the years that did a reverse split (LU, SD, OGEN). It did not end well for me on any of them. On the other hand, the stocks I've owned that did a split, increasing the shares and reducing the pps, (WMT, Michaels) have done well.

Many mutual funds and institutions have minimum pps thresholds that must be met before they will invest in them. Reducing the number of shares and driving up the share price above those thresholds can open them up for investments from these bodies.

Reducing the pps and increasing the number of shares can make a growth stock more attractive to a wider population. At some point though, they no longer feel the need to do this; think WalMart.

This is my explanation, a simple investor. There are people with much more technical knowledge on investing visiting here.
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vandybuff

Re: Penny Stocks
« Reply #15 on: April 11, 2018, 08:25:58 pm »

Respectfully, they are penny stocks 'for a reason'. 
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longbore

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Re: Penny Stocks
« Reply #16 on: April 15, 2018, 01:23:19 pm »

I like to play the super sub pennies...
« Last Edit: April 23, 2018, 09:39:30 am by longbore »
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Vantage 8 dude

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Re: Penny Stocks
« Reply #17 on: April 15, 2018, 02:20:09 pm »

I once bought a $60 stock that did a 1 for 20 reverse split and got down to $.10 pps before it disappeared. Does that count?
Kinda reminds me of the old guy I once heard about. He made a small fortune; problem was he started with a LARGE fortune.  ;) :) 8) :(
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HawgWild

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Re: Penny Stocks
« Reply #18 on: April 15, 2018, 05:37:59 pm »

That stock was Lucent, once the most widely held stock or so I heard back in the late 1990s. It may have even gotten to a pps of $70 or more. I bought in when it fell to $12.75. Kinda reminds me of GE. There's no sign of it these days. It merged into ALU and then was bought by Nokia a few years back.
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longbore

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Re: Penny Stocks
« Reply #19 on: April 19, 2018, 12:46:15 pm »

One thing I appreciate most about sub penny stocks is I can do a whole lot of losing and still be a winner.
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theFlyingHog

Re: Penny Stocks
« Reply #20 on: May 02, 2018, 06:51:24 am »

I turned a grand into two grand over the last two years on a little oil company. Of course theyíve gone up another 20% since I sold it two months ago
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greenEGnHAWGS

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Re: Penny Stocks
« Reply #21 on: May 02, 2018, 07:14:23 am »

I turned a grand into two grand over the last two years on a little oil company. Of course theyíve gone up another 20% since I sold it two months ago

Oh nice. Let me ask you, how did you catch on to that stock? If you did your own research, were there certain things you looked for?
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golf2day

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Re: Penny Stocks
« Reply #22 on: May 02, 2018, 08:15:51 am »

Oh nice. Let me ask you, how did you catch on to that stock? If you did your own research, were there certain things you looked for?
He has a fool-proof research system in place. He finds companies that heís interested in, then he moves to the town where they have their corporate headquarters for a couple of months. While heís there he finds the ugliest skank thatís relatively high up in their company, and he dicks her down. Itís amazing the amount of info ugly skanks will give you while youíre dicking em down.

He calls it ďgetting inside her tradingĒ. Itís really quite brilliant.
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theFlyingHog

Re: Penny Stocks
« Reply #23 on: May 02, 2018, 08:21:59 am »

Oh nice. Let me ask you, how did you catch on to that stock? If you did your own research, were there certain things you looked for?
Honestly itís a company that my company has a close relationship with and I thought they were undervalued. I have the TD Ameritrade app and watched the news they post related to that stock and it looked favorable. Really started as just a WAG, wanted to throw some money at something and I knew a bit about what they do since we work together
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golf2day

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Re: Penny Stocks
« Reply #24 on: May 02, 2018, 12:00:42 pm »

Honestly itís a company that my company has a close relationship with and I thought they were undervalued. I have the TD Ameritrade app and watched the news they post related to that stock and it looked favorable. Really started as just a WAG, wanted to throw some money at something and I knew a bit about what they do since we work together
Why are you holding out on these fine people? They need to know the truth! Making money in penny stocks is not about research, itís about boning skanks.
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theFlyingHog

Re: Penny Stocks
« Reply #25 on: May 02, 2018, 03:43:00 pm »

Why are you holding out on these fine people? They need to know the truth! Making money in penny stocks is not about research, itís about boning skanks.
I bought it back this morning and itís up another 4 n a quarter. May turn this one stock into my retirement fund, F the 401k
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