Penny Stocks, Need Advice?
I’m 16 and i’m seeking a big future. I am going to take my fathers buy here pay here dealerships when i’m of age and continue to make them enormous. While I can’t exactly finance cars at the moment I would really like to have approximately 10,000$ – 13,000$ before I graduate. I currently have 1,900$ from selling virtual currencies ( from video games ) and about 1,100$ in virtual currency that I can sell. My question is are penny stocks safe if I invest correctly, and exactly how do I invest correctly?
Does watching charts work? Or do I need to do actual research on the company in order to make a safe investment. I’m currently under the impression that stocks valued 40c or less are unsafe just because it shows that the company isn’t very successful. Is that a decent assumption? I don’t want to lose the money I currently have or at least all of it. I can handle a loss here and there but as any investor I want to come out on top. I NEED ANY INFORMATION ABOUT PENNY STOCKS.
The only people who make money in penny stocks are the scammers and they make it off people like you.
Most companies traded as penny stocks are a wreck or an outright fraud. Thes are not future great companies just getting started as some people would have you believe. To make money in penny stocks, you need to particpate in the “pump and dump” scams or buy Regulation S shares direct from the company and sell them on the penny stock market or some other unseemly thing.
Do not believe people who tell you you can make fantastic returns or even that they have made fantastic returns. Just stay away altogether…
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