[mage lang="" source="flickr"]penny stock investing tips[/mage]
Is this tip good for stocks?
I was talking to some guy who claims he have “millions of dollars” online today and well I’m 17 so of course if he has a lot of money I’m going to ask for tips for when I’m older. He told me that when I’m older that if I go into stocks I should invest into “penny stocks.” Is that a good idea?
Reason why I’m asking is 1. I really know very little about stocks, so I figured I’d come here so I would know if this was a good idea. 2. No one is who they say they are on the internet, now he could have been but you guys get my point. So, bottom line, is this a good idea?
Penny stocks are a stupid speculation, not an investment.
- Liquidity is poor.
- There is not sufficient information for proper analysis.
- The companies are either drowning in debt or have little or no revenues.
- ALL penny stock websites are just pump and dump scams.
Anyone recommending penny stocks is a fool. Do NOT take advice from this person. If he claims to be a penny stock millionaire, he is lying.
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