How should I find the right penny stock?
I recently met a man who starting investing in Dell at $0.09 in the early 90′s and General Dynamics $1.39 in the same time period! He’s worth multi millions now! Is it pure luck?? Should I invest in biotech??
You met a man who is not even a very smart liar. Dell has never been very close to a penny stock. About the lowest Dell ever traded in my memory going back into the ’80′s is about $8.00 (I’ve owned Dell forever too). Now if you go to Yahoo and look up historic prices it looks like it trade at 0.08 because of stock splits but, well, it just didn’t.
I don’t know General Dynamics as well but I will bet big that General Dynamics hasn’t traded that low in a very long time or ever (GD started in the 1950′s but you could make an argument that it just changed its name in the ’50′s and has existed since Teddy Roosevelt’s day).
So anyway, stay away from liars and Penny Stocks. There are too many of both in the world.
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