Are Penny Stocks good investments?
I had a friend buy 2000 shares of penny stocks in a medical supply company and made a lot of money. Are penny stocks good?
It depends completely on each induvidual stock…..Take for example the Bre-x troubles in Canada. It was a penny stock which jumped to more than 200 dollars in a few months. But sadly, once the realization that there was no gold came about, it was reduced to zero. The moral:if you have invested and bailed out at the right time, you could have made fortunes, but most didn’t realize that the end was in sight before it shot them in the face.
Overall, penny stocks are risky because they rise and fall like the tides, if you are willing to take the risk or believe that there is a particular stock that will be rising drastically in the near future, go for it….but beware of what you can lose.
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