"If It Don't Make Dollars, Then It Don't Make Sense"



I know yall have heard the saying, “if it don’t make dollars, then it don’t make sense.” Well, I actually know of “cents” that does make dollars. I’m talking about penny stocks. According to Wikipedia, “In the United States, a penny stock is a common stock that trades for less than five dollars a share and are traded over the counter (OTC) through quotation services such as the OTC Bulletin Board or the Pink Sheets.” I personally like penny stocks because they are sooo cheap. I actually invested in a stock yesterday that was $0.01. I bought 60,000 shares, which was $600. If the stock rises to $1, I’ve just made $60,000. That’s a large gain for just a small investment. For you, you may want to just invest a $100. I mean, you spend $100 on b*******. Personally, I can spend that in one night at the Cheesecake Factory (the food is quite delicious I might add).

Although the stock is cheap, there is a high risk of losing money. Therefore, you need to know when to sell. Personally, I don’t mind the risk if, for example, I only invested $100. I can blow that in a weekend….with nothing to show for it. So if I lose it, I’m not too mad.

For those who are interested in buying stock, you can do it yourself. I use Zecco.com. It’s the best in comparison to Scottrade, E*Trade, and TD Ameritrade. When you buy or sell (it’s called a trade), you only pay $4.50 commission to the company. There is no minimum balance needed and no inactivity charge. They don’t have ridiculous random charges. So if you wanna invest $100 in a stock and sit on it, then you can and there is no fee. And the customer service is GREAT, if you have any questions!

I know some of you are scared to buy stock because you don’t wanna lose money. But, you gotta take a chance and invest. Investing will help you achieve financial stability. Buying penny stock is a great way to start and gamble with the stock market. Here is a site that tells you about many penny stocks that are available for you to purchase…http://www.surefirepennystocks.com/

Views: 1439

Tags: dollars, money, penny, stocks

Comment by Busy Signal aka $picey on July 29, 2009 at 6:55pm
Thanks OG. I had a TD Waterhouse account & closed it because of the fees. Zecco at NO FEE is right up my alley. You've given us everything here. Thanks again. Will def PM you when I sign up :)
Comment by OfficialGroupie on July 29, 2009 at 8:36pm
you're right aka. i don't care if a chick is a groupie but damn have some knowledge. i cant stand dumb hoes. i refer to them as "pda"s (pretty dumb a****). this is why i always land ballers. they like my intellect as well as my flyness!

btw, hahaha @ the motto. girl i have tons of them! im always saying something crazy.
Comment by PNut Gallery on July 29, 2009 at 9:48pm
Coincidentally, my co-worker was just telling me how he used to dabble quite a bit with Penny stocks. He also told me that you need about $300 to get started. He advised me not to get into that right because of the economy and the fact that there's no money to be made (I think that is more of his personal opinion)...but he definitely made money when he was in it.

I am very interested and would love to learn more about them (particularly the hot ones to invest in...)

Official whats the most you have profited off of your penny stock investments?
And I love the information you're kicking...definitely encouraging us to step our financial game up!
Comment by Charlie/Daddy's Girl on July 29, 2009 at 10:01pm
Ok, O.G you know I am money/investment sensei - but I didn't know anything about these...will do some research, and I may be getting into some Penny Stocks!!!
Comment by OfficialGroupie on July 29, 2009 at 10:06pm
@pnut. you dont need 300 to get started. like i mentioned, you can invest with a 100. hell, you can invest with 50. penny stocks are volatile and can increase drastically or decrease drastically. but like i said, its only 100. you could gain 1000 or lose 100. i'll take my chances and lose 100 if the stock company goes bankrupt. right now is the best time to invest because stocks are so cheap. once the economy gets better, the stock will increase. so its better to buy it now at 0.01 rather than at 0.50. i posted other info in this post: http://www.balleralert.com/forum/topics/investnow-is-the-best-time

personally, i've made about 19K with penny stocks. i usually sell before it hits $1. but thats just my method. for the stock i just bought, imma let it ride out. im trying to get that million dollar return!
Comment by OfficialGroupie on July 29, 2009 at 10:14pm
@charlie. these stocks are rarely talked about because they are so volatile. they are VERY risky. generally, people dont invest $50. they like to invest thousands. its not smart to invest thousands in a penny stock cause you can lose all your money. its not worth it. but for folks like you and me, i dont mind investing $50. also, most of these companies are new. these up and coming companies dont have any history. folks are a lil reluctant to invest with the company since they dont have a "fan base".
Comment by PNut Gallery on July 29, 2009 at 10:18pm
thanks for setting the record straight. I knew the boy made some money but I definitely knew he didnt know exactly what is was talking about....

I was thinking $50-$100 should be enough to start ... they're penny stocks....!!!

He did say sale around $1 --lol at least he had some knowledge on that part!
I hope you make the million dollar mark.

How long have you been investing in the penny stocks?
Comment by OfficialGroupie on July 29, 2009 at 10:29pm
@pnut. i first heard about it in 2000. i starting investing in penny stocks in 06/07.

btw, some stocks are even less than 0.01. there are some that are 0.0003! but do some research FIRST and try it. you dont wanna invest in a stock just cause its a penny. you still gotta be smart about it. i personally like tech companies. also, check out the site i posted above, do some research on penny stocks and the stock you're interested in, and make an informed decision. good luck. make me proud b******. btw, i do accept "dropping knowledge" donations! im so for real. cause i got a non-for-profit that yall can contribute to!
Comment by Sheli on July 29, 2009 at 10:45pm
Great post OG, I've done the regular stocks and mutual funds, but never penny stocks, I looked at it earlier when you posted a comment about it and think it might be something I'm interested in. Instead of going with ING, like before I'll check out the one you recommend and I'll PM you when I finally decide. THANKS a bunch!!!
Comment by ATown SouthernGal on July 29, 2009 at 10:49pm
Never heard of penny stocks...very interesting! I was happy to see that my mans 401K went up this past quarter, returning my faith in the stock market. NOthings worse than losing money!!! I'm going to look into penny stocks and get back with you!!!!

Tell us more about your non-profit.

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