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YoungManOldMan
George Washington Fan
Member since Dec 2017
1882 posts

Anybody had major success playing around with penny stocks?
I was looking at Cisco earlier and they were a penny stock back in the early 90s.

I understand the risk is major but if you had $500 to blow, it can't be no worse than putting it all on 00 at the Casino.


The Egg
LSU Fan
Houston, TX
Member since Dec 2004
69882 posts

re: Anybody had major success playing around with penny stocks?
yeah


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CarRamrod
USA Fan
Spurbury, VT
Member since Dec 2006
43755 posts

re: Anybody had major success playing around with penny stocks?
quote:

I understand the risk is major but if you had $500 to blow, it can't be no worse than putting it all on 00 at the Casino.


00 is 35 to 1.

1 out of every 35 penny stocks do not make it big. more like 1 and a few hundred thousand to million. So yea 00 at the casino is way better odds than putting it into a penny stock without intense research and luck.


ATLdawg25
Georgia Fan
Atlanta, GA
Member since Oct 2014
4106 posts

re: Anybody had major success playing around with penny stocks?
quote:

it can't be no worse than putting it all on 00 at the Casino

Despite your best efforts, you actually are correct due to the double negative.

It is definitely worse.


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100
Vicks Kennel Club
Chicago Cubs Fan
29-24 #BlewDat
Member since Dec 2010
28733 posts

re: Anybody had major success playing around with penny stocks?
quote:

00 is 35 to 1.


You have a 1/38 in hitting 00 in American roulette. There is no 00 in European roulette (only 37 options makes it a better game).


TheIndulger
LSU Fan
Member since Sep 2011
17601 posts
 Online 

re: Anybody had major success playing around with penny stocks?
Oh, that changes everything he said


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Upperdecker
LSU Fan
BR
Member since Nov 2014
12363 posts
 Online 

re: Anybody had major success playing around with penny stocks?
OP you are probably the worst new poster on TD. Congrats


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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
38480 posts

re: Anybody had major success playing around with penny stocks?
It can be much worse than putting money on 00. I feel sorry for the people who do this, win money, and then blow everything chasing that first high.

Awhile back I started getting these pump and dump emails encouraging me to buy some stock that was trading at pennies. Of course, I was breathlessly told it would hit $5 due to a "big announcement". I watched it as the price briefly doubled, then immediately crashed back to below where it had been. Took about 2-3 hours.

The 10-K for this company (yes, you should read them) advised investors that it was a company that existed purely to hold oil drilling rights, but that the rights were not being exercised and there were at that time no plans to ever do so.

And people still fell for it.

Regarding Cisco, be careful that you aren't looking at old prices that are adjusted for stock splits. It might well not have been a penny stock at all.


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