[mage lang="" source="flickr"]where do i buy penny stocks[/mage]
Question about buying this stock?
Hi I Live in Vancouver and bought this stock that I heard was gonna peak up. Its at its 52 low but it hasnt moved anywhere from where it was for about a month. Its a penny stock symbol WGM international wayside goldmine. I also heard its a pump and dump what does that mean? can anyone give any pointers about this?
A pump and dump scheme is used by many unethical people who prey on the amateurs investors/traders.
A group of these people go out in the market (usually the Over-the-counter) and buy blocks of stocks.
They then send out (mail, e-mail, phone calls) about a given stock that is about to move. They usually have great stories about the stock, that suck in many novices and/or or greedy investors.
As the price of the stock moves up, the group starts to sell of their positions and walk away with a profit, mean while the buyers loose.
One should never buy on e-mails, or phone calls touting any investment. If the investment was so good, why would they tell a totally unknown person.