What are some Penny Stocks worth investing in?
Looking to go into the stock market for the first time and I have 1,000 dollars maybe a little more that I am willing to jeopordize to possibly gain more money. What stocks should be ones to follow and look into and how many shares should i put into a particular one?
To be honest, I would completely avoid them. In order to make a sound investment you need as much knowledge about a stock as possible. Penny stocks are so speculative and are not very forthcoming with their figures that you truly cannot gauge the success of the company. It is awesome you want to get involved in investing. My suggestion would be to first look into the industry you like most. If you love sports, check out stocks within that industry (like Under Armor [UA]). This way you already have an interest in that sector and you will want to stay in tuned with the sectors overall performance. That way when you are learning to read the plethora of metrics and analysis formulas, you can easily apply it to an area you are already interested in. If you are looking to get in, first check with your employer to see if you have a brokerage account for your 401(k) (assuming you have one). You can easily setup a separate account over the phone with them to trade stocks. If not, shop around with the online brokers. When you find one you like you can call or follow the online prompts to openning an account. Just be sure to read the fine print regarding their commission rates. Generally the ultra-low, flashy rate is for investors who engage in over 120 transactions a year (which is very, very expensive). Good luck and have fun with this!!!