Anyone have fun messing in penny stocks?

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I put $1,000 aside and decided to see if I could play the day to day any. Well I am happy to report that after 3 weeks I have $839 left. Thats a fricking win in my book.

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just go to the casino for fun.

LNGLF. Don't day trade it though. It's best days are in the next 1-3 years, but now is the time to get in.

Over the past few weeks I put a few thousand into a cannabis stock. My son has 250,000 shares that he received (at no cost to him) when it was around .001 (it wasn’t a cannabis company at that time). They changed directions with the company and went the cannabis route and it’s at .04 now, so he has around $10K sitting there. A few of those cannabis stocks went from pennies to over $10.00/share. The potential for this company is huge. They are making all the right moves imo.

ETA: Only other time I fooled with a penny stock was a gold mining company my uncle was invested in. I just put around $800 into it. Could have sold when it went up 300%, but he swore it was going to hit big. Now it’s worthless. My uncle had a couple huge hits with companies like that one though. His son basicallyt paid for his house off a penny stock hit.

Yeah I wish I hadn’t gone throug that experience because it’s going to taint my moves with this one. I was kicking myself in the arse for not cashing out when I tripled my money.

On the cannabis stock, it’s hard not to make my teenage kid cash out at $10,000 that was basically handed to him. But if the company does what a few others have, then I have to explain to him why he has $10K instead of a couple million because I made him cash out. He wants the long play so I’m letting him decide.

For myself, after tomorrow I’ll have 75,000 shares. I’ll cash out 25,000 shares when it makes me my $3K back, another 25,000 when it hits $1.00/share, and the final 25,000 when it hits $10.00.

I do it out of boredom from time to time. I've even subscribed to some of those penny stock "gurus" before aka pump and dump guys. I've made a couple grand a week before doing it. ALso lost a couple grand a week before.

I remember one shipping company I think its ticker "DRYS" or "DRY" they went from like 1 buck to 60 bucks in one day.

It's mostly a crap shoot and a lot of sketchy companies and people.

I was big into one company XGTI they were getting a lot of military contracts and stuff. Havent looked into them in a while.

I was big into Gevo as well. They make some type of bio fuel I should have stayed in that one because a lot of airlines picked up their product and are actually using it now.

A wise man once told me “the best way to make $1 million in penny stocks is start with $2 million”

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wise man once told me “the best way to make $1 million in penny stocks is start with $2 million”

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Lmao, I’m on my way then.

Seriously though just seemed like something to do with not really much going on.

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Have you ever noticed most of these stocks are closer to $0 than $1.

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That’s what makes them so tempting.
When my kid got his quarter million shares, our eyes momentairly got really big. Then when we saw it was at .001, we had a good laugh at the worthless stock. Suddenly a year later it is at .04 and worth $10K. And in May it was at .08 and worth twice that, though his shares were still restricted at that point. The percetage gains are just mind blowing with those 1 in a milion penny stocks that make it.

I think the key is to just not try to day trade these things because it could drive you insane.. My perspective is that you use throw away money, pick one or a few, then sit on them. I wouldn’t call it a lottery ticket because it costs more than a couple dollars to play, but I equate it to a slot machine. I enjoy slots but know I’m throwing the money away, so I don’t spend money I can’t afford to lose. When I play slots I go in saying, “I’m going to lose this $150 or come home with a million. But I’m going to enjoy that feeling of watching the reels stop.” I don’t go in trying to make $50.

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Take a look at MMEX and their Pecos County Refinery Prioject.

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If that refinery is ever built and production equals what they plan, someone is about to make some money off it.

Got a new one for you. WDDD. They spun off of MRMD and still own over 4.8 million shares. WDDD’s market cap is under 16 million which is extremely undervalued bc MRMD is trading at $4.80. If you valued them based on their holdings alone they should be trading higher due to the fact 4.8M*$4.80=$23 million. Below is a link of these facts the company put out two months ago before MRMD doubled in value.

WDDD Shareholder letter