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Topic: Has anyone here ever bought OTC penny stocks?
Anonymous A started this discussion 5 days ago#132,610
I avoid them because they’re usually garbage. Like lottery tickets, the tiny percent of wins influence people to waste their money.
“It’s a 20 cent stock. You have 1,000 shares. That’s $200. But then the stock surges to $5. You’re up to $5,000. You’ve netted $4,800.”
I had a friend who played in these. He was reapportioning some holdings while high and accidentally bought a controlling share of some POS, then had a call from the SEC that thought he was pumping and dumping due to prior online chatter.
Anonymous B joined in and replied with this 5 days ago, 10 minutes later[^][v]#1,415,485
Nah, not usually worth the gamble fighting against trading bots. I did play with low volume crypto until I realized I was competing against 3rd world phone traders for $0.10 gains - I figured they need it more than me and quit that. It was kinda fun following the natural buy-low-sell-high cycles though, almost felt like an actual day trader :D.
> Nah, not usually worth the gamble fighting against trading bots. I did play with low volume crypto until I realized I was competing against 3rd world phone traders for $0.10 gains - I figured they need it more than me and quit that. It was kinda fun following the natural buy-low-sell-high cycles though, almost felt like an actual day trader :D.
That’s funny. I don’t touch crypto. I bought some known companies that plunged during the 2007 meltdown. I made money but I pussied out in terms of number of shares. Say a bank was down to $1 I only plunked down a couple grand.