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Started By
Message
Anybody had major success playing around with penny stocks?
Posted on 1/3/18 at 9:30 am
Posted on 1/3/18 at 9:30 am
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.
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.
5
Posted on 1/3/18 at 9:46 am to YoungManOldMan
yeah
Posted on 1/3/18 at 9:48 am to YoungManOldMan
quote:00 is 35 to 1.
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.
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.
Posted on 1/3/18 at 9:57 am to YoungManOldMan
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.
Posted on 1/3/18 at 12:36 pm to CarRamrod
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).
Posted on 1/3/18 at 12:41 pm to Vicks Kennel Club
Oh, that changes everything he said
Posted on 1/4/18 at 9:01 am to YoungManOldMan
OP you are probably the worst new poster on TD. Congrats
Posted on 1/4/18 at 9:44 am to YoungManOldMan
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.
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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