Spawned from the Investing thread because we think some more casual posters might want to get in on some low cost gambling. We have a couple of posters that provide insight from reddit, discord, and other sources where penny stocks are discussed as "pump and dump". Some clarification: In order to play along, you'll need an account with a trading site. Robinhood is the easiest but if you have any interest in long-term investing also, TD Ameritrade, E*Trade, or Schwab are all sites that we use. On any given day, one of our posters will post the name of a stock that has a large amount of rumors floating behind it. Individually, we buy a lump sum of this stock. Keep in mind, these stocks usually trade somewhere around 25 cents, so a couple hundred stocks might cost you 60 dollars. Somewhere within the next 48 hours, the price on that stock will hopefully double, and then you sell them all for a quick $50 gain. Orrrr...that stock never moves at all, and you sell it all for an $8 dollar loss and try again the next day.
I'm in. From experience I would offer the following advice to new speculators: Take your profit, sell before the news, and don't buy if the pump has already happened. Don't gamble with more than you can afford to lose. Thank you and good luck!
also, DO NOT under any circumstances buy any of these stonks unless you are 100% willing to watch that money burn in front of your eyes
I know Taffy has brought us a couple of these...I'm trying to remember others who have been listening for rumors...
Ohhh...wonder if we could get a "team" tag for the site. GoodForAnother Taques ...how much will it cost me to get an "Investing" team tag?
Also for those who want to get in earlier, personally I read r/pennystocks on Reddit, but the Pump & Dump is strong there so don't get sucked in!
Some background on KTOV: they offer a drug that is being launched mid-may (ie next week) that is expected to bring in $30MM rev per, $99.5 total over 3. Expect PR next week and thus the bump in price. If you want to value the company at 3x rev, $100M pretty nice for a penny. They just went through a direct offering (ended today) at $0.40 which usually kills penny stocks momentum, we are currently over that mark which is a really good sign IMO.
Good idea with the separate thread. Nice work. Twitter guys claiming they’re buying long on $SHIP. I’m skeptical of it but they’re all saying in
I'm here to report my 500 shares at $.38 and also get my little icon to show up next to the thread for all of the followings.
I'm restricted by work to holding for 30 days, and my wife would have to get approval from compliance first, so I cannot participate
Like pacey mentioned, this is something you should be watching regularly. Be prepared to ditch these at a moment's notice.
bought some oxy calls today. 5/15 $17s for 11 cents good luck with yalls penny stonks. i haven't looked at or really paid attention to yall doing this but i hope you all become rich and/or more rich from this
I’m rolling hard with KMPH and KTOV, also bought some F stock so I can feel good about not losing all of my money. I’ve made my 2nd day trading move this week so I think if I make another my account is suspended for 90 days through Robinhood. Gonna have to roll with KMPH and KTOV until next week..