Any Personal success stories out there trading penny stocks?
by Gary James on Sunday, September 12th, 2010 | 5 Comments
Please No Bull… Its a serious question, just looking for a serious answer, I know they are dangerous, and i know you can loose it all. Just want to hear from someone who has made money off them, I mean someone has to be when you see 600% price increases in a couple of days, Thanks!
Hey everyone, Gary here. Stock trading was never my forte'. I lost tens of thousands of dollars listening to stupid advice and letting other people trade for me.
It’s certainly possible but rare. Most fail, or stay penny stocks. Here’s a few though:
In early 1985, Apco Argentina (APAGF) traded for 1/8 by 3/8. The stock has since split 4-for-1 (last November) so it was even less than that. It’s now worth about $27 a share,
Ok, here’s a better one. Mylan Labs (MYL) was going for 75 cents a share in 1976. Since then it’s split 11 times (one 5-for-4, four 2-for-1 and six 3-for-2) for a total of 227.8125 for 1. Which means that adjusted for splits, the stock was going for less than one-third of a penny per share. The stock is now going for $13.72 which is about half what it was five years ago. Still, it’s a nice 400,000% return for its low.
CNQR – Traded at $0.3 sometime back in Apr 2001 and is now the darling of the street as an extremely successful Saas company trading at over $47.
Hansen Natural was trading in below $1 in early 1996. It wasn’t until July 2003 that it reliably stayed above $5 a share. The next five years is widely chronicled – July 2003’s price is a split adjusted $0.64 to $28.59
I know a lot of people conception penny stocks equals losing money.
As a result of that conception, they won’t bother captivating the time to educate themselves on penny stocks.
But I intend YOU to belief this: You could formulate a lot of money if you know the right information.
You don’t want to put your faith in other people hands. You need to educate yourself on penny stocks and you need to have the right tools. stay away from pumpers and bashers, because they clouds your mind, stick to your own gun.
I found this free blog on the web, you can learn a lot from it. Visit the blog below. No bull.
If what you want is for the price movements to be a greater percentage of your investment dollar then trade options and warrants. As they are options to buy, they always trade for at least the strike price below the common stock for which they are a option for hence they have the same price movements but those movements represent a greater percentage of your investment. True they become virtually worthless if the common stock drops below the strike price but unless they are close to expiration then there’s still the chance that they will come back. Indeed options that can be bought for pennies because the stock is below the strike can very easily register 600% or likely more increases just by the common stock rising above the strike. They’re sorta like penny stocks that can come back from the dead.
its depends on you fate
I would stay away from them. They’re penny stocks for a reason. Maybe if you know what your doing you can make some money but for somebody who is inexperienced its probably not a good idea.