Turn $10,000 into a Quarter Million in Two Days.

[VenomousDSG]

Strait up Jordan Belfort shit. I'd be suspect of anyone whos making significant money off of penny stocks. I wouldn't trust them as far as I could throw them, and I'm sure the SEC will be asking them some questions too.

 

[Rent Free]

[MENTION=396]Mike K[/MENTION] Thanks without being a jackass about it.

 

[sickmint79]

There's a lot of amateurs getting into the penny stock stuff now and it's dog eat dog. They drag these guys in with hopes of getting rich, bleed them dry and then use their own success in bleeding the newbs dry to then entice more amateurs to come in.

You don't realize how clueless most of these people are until the stock gets halted and you see people that blindly sunk 10 - 20k into it then start asking others on Stocktwits what a halt is, when they'll be able to get their money back, if they'll be able to get their money back, etc.

And often times you can say that rallies like these are a short squeeze but the company had (going off memory here) 100,000 shorted shares on a 1 million share float, trading on a volume of 10,000,000 shares yesterday. That means the entire float changed hands 10 times in one day. That's not a short squeeze. It's bull vs bull. All this for a company that generally only sees 20 - 40k shares traded a day.

clueless amateurs have that much money and are that clueless to toss it around? that's just shockingly amazing mass delusion.

Investopedia is priceless. I reference it all the time, often just to better understand even basic principles. The only advice I could offer otherwise is not to listen to any gurus. There's so much BS out there. Take $500, prepare to lose it and start trading. The best way to learn is to play with real money.

without a cheap/free broker/trades, also might have fees eating away if you're only starting with a pile of 500 tho

 

[Mike K]

And today it was unhalted. From $115.49 to... Wait for it...

$50.00 and it's slowly trickled down to $20.00 from there. That means if you bought in yesterday morning at the peak and invested $10,000 you'd have about $1,800 left now.

And thus we have the dump in pump and dump.

 

[Lord Tin Foilhat]

Ouch. Someone made something though

 

[Sprayin]

You would think everyone would have a fire sale after they halted. Who would hold onto that?

 

[Lord Tin Foilhat]

Probably people not wanting to admit they just lost a ton of money that won't be coming back

 

[Sprayin]

Denial is one hell of a drug.

 

[sickmint79]

i'm shocked to see that many will participate in a pump so ridiculous. i guess the same thing happens with a penny stock going to $1, like same percentage, but $1 to $100 just psychologically seems harder to believe that there are that many mass delusional participants.

 

[Mike K]

You would think everyone would have a fire sale after they halted. Who would hold onto that?

That's the thing. People bought it all the way down to where it sits now: $12. o not only did it take the initial victims that bought in at $115 but it it took thousands of suckers all the way from $50 - $12.

 

[sickmint79]

That's the thing. People bought it all the way down to where it sits now: $12. o not only did it take the initial victims that bought in at $115 but it it took thousands of suckers all the way from $50 - $12.

i see it bounced 11 to 20 to 12 too. i can't believe it's even at that if it's teetering on bankruptcy. i see a big steep decline for part of it at 73, hard to believe it wasn't steeper/lower from the 30 it fell to onward.