Acknutz asked:
at my old job, we utilized to get random faxes about hot penny stocks. I would follow the stocks for a couple of days and they always seemed to jump up in value. How do I subscribe to have these tips faxed to me?
at my old job, we utilized to get random faxes about hot penny stocks. I would follow the stocks for a couple of days and they always seemed to jump up in value. How do I subscribe to have these tips faxed to me?
March 3rd, 2010 at 8:11 pm
That stuff is absolute garbage, don’t waste your time. Those are scams. Penny stocks are bascially the worst investment you could possibly make. They’re cheap for a reason.
March 3rd, 2010 at 9:55 pm
Like the previous poster said, stear clear of penny stock. Individuals do not make money on them as they are almost all but controlled by large financial institutions. Secondly, the majority are fly by nights and scams or near-bankrupt operations. Another thing about those faxes. When you look at the bottom, there is a disclaimer saying that the company faxing them to you was paid in stock by the company they are promoting, a clear conflict of interest. The main reason why the stocks probably went up was because there were people who took the advice seriously, bought it up thus pushing the price up. Unfortunately, people who bought it thinking the advice was real and the stock was a good deal are left holding the bag when the floor falls out. Be careful and stay away from penny stocks. It’s sound advice! I have and I’ve been very successful without them!
March 6th, 2010 at 9:51 pm
Don’t.
Read “Common Stocks and Uncommon Profits”, by Philip Fisher instead.