Not much use hanging on to these stocks because they can eventually end up worthless and often do. So there are all these investors sitting on portfolios of penny stocks that are worth absolutely nothing. Some hang on and hang on year after year still hoping. Another scheme to defraud investors or anyone, is happening overseas. Investors have stocks of penny stocks that they have bought up cheap. Then through various means they obtain your credit card details and start buying these penny stocks with your credit card. As they are able to push the price up they are quitting their own penny stocks at huge profit leaving you with a heap of worthless stock after it has fallen again.
This type of fraud contributes to about 15% of all fraud. Not too much I suppose but a lot if it is your money disappearing down the gurgler. It is estimated that some of these fraudsters use email spam to tout a penny stock. They can get enough interest to lift the price so they can get a quick 5% on their investment. Not much you reckon, but if you can do this just a couple of times a week you can pick up nearly 50% a month. That doesn’t sound too bad.
All this fraud stuff only goes to show that things do happen in the penny stock industry. If it is being targeted by fraudsters then there must be enough movement in penny stocks to make it worth their while. Which is very interesting. I mean if you know what you are doing you could probably get in on this action and pick up some quick gains for yourself. Not fraudulently but legitimately. If the market is moving that much on a regular basis it sounds like it could be a fun place to be.
Of course, it is like any other investment area. You have to know what you are doing or be prepared to learn. If this sounds like you go for it and have some fun and make some money.
Hi Guys,
These stocks could be fun and profitable.
PENNY STOCKS
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