If Obama makes a push for legalization during his second term, you bet your *** I'll jump on some penny stocks. maybe OP's 'friend' knows somebody, that knows somebody. Or maybe he's just a crock of ****. Either way, thanks for the info, friend.
so your gonna wait until he does that, don't you think everybody will jump on it then?
Not always. I mean, getting rich is far fetched, but I bought BBDA, a penny stock, for $.0008. 175,000 shares for 140 bucks. It got up to $.01 over the summer and I sold it all. It took almost a year to make the money but stocks are a waiting game anyway. For 140 bucks that's a good return.
Same with this. Any legislative turn that even speculates a positive for marijuana can get a stock to jump like crazy. That other stock we were talking about went from 40 something bucks to over 200 in a couple of days after the election. Of course if went back down, but that's the beauty of knowing when to sell.
penny stocks are a big waiting game...
but I look at it like this..
You can spend money on sneakers that depreciate or you can take a calculated risk that actually might pay off
Not always. I mean, getting rich is far fetched, but I bought BBDA, a penny stock, for $.0008. 175,000 shares for 140 bucks. It got up to $.01 over the summer and I sold it all. It took almost a year to make the money but stocks are a waiting game anyway. For 140 bucks that's a good return.
how much did u make off that one, and why did u sell it?
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Just because they're cheap doesn't mean they'll always be that low. That's probably why OP thought it was a good time to get in cause it's dirt cheap. Low risk as hell.
look at the volatility on that though. it dropped today like 12 percent on no news. it's OTC markets, it's going to be nasty and way liquid. you could lose half your money tomorrow.
I got absolutely RAPED playing penny stocks. EGYF almost wiped out my gains in one freaking day. If you've never traded before, I wouldn't recommend pink sheets. They move quick as hell and most of them are pump and dump schemes
how much did u make off that one, and why did u sell it?
wut do u use to buy/trade? a computer program?
I sold because I made a promise to myself to sell at a penny. I sold around 1700 bucks. I didnt want to get greedy. It down to half a cent again. I use etrade and eoption. Eoption is only 3 bucks a trade but the site is kind of primitive. It does the job tho.
Quote:
Originally Posted by 360dagod
vanguard is good...
I have my 401 through Vanguard but trading stocks is like 13 bucks per trade. Thats pretty high.
Quote:
Originally Posted by Domingo Halliburton
look at the volatility on that though. it dropped today like 12 percent on no news. it's OTC markets, it's going to be nasty and way liquid. you could lose half your money tomorrow.
But you spend about a hundred bucks to invest and just watch it. The prospect is worth 100 bucks.
Ive lost money on pink sheets too, but the gains have been more since the sell.
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I knew this dude, just barely, when I was a kid, he was the one we all looked at like a God and **** because he was coming thru in new BMW and Navaigators, when we were like 16. I shook his hand once lol, we had a mutual friend who died. He was making millions of dollars of that ****...but he was doing too much, I know people who run much smaller shops and did well.
He got 8 years, and he probably cooperated to get that sentence too.
Edit: Oh, I see you are talking stocks, thought you meant dispensaries.
I knew this dude, just barely, when I was a kid, he was the one we all looked at like a God and **** because he was coming thru in new BMW and Navaigators, when we were like 16. I shook his hand once lol, we had a mutual friend who died. He was making millions of dollars of that ****...but he was doing too much, I know people who run much smaller shops and did well.
He got 8 years, and he probably cooperated to get that sentence too.
Edit: Oh, I see you are talking stocks, thought you meant dispensaries.
Just because they're cheap doesn't mean they'll always be that low. That's probably why OP thought it was a good time to get in cause it's dirt cheap. Low risk as hell.
10Daps
