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 bullshit. 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/