RE:Pumpers always have an excuse...know the gameLooks like I nailed it, looked back because a biotech I own has speculation about a Nasdaq listing....hoping they don't do a Reverse Split though to get it done....how many consolidations here in the last 5 years now?
ledrog wrote: Let me share a story with y'all.
Let's say there's a guy, we'll call him Joe to give him a name. Joe has 5 grand sitting in a GIC earning butkiss. Someone tells him about a great company, one that is poised to make a big splash. Its a penny stock, that we'll say is trading at 50 cents
"What the heck" Joe figures. That 5 gees is making nothing in interest, I'll give it a shot. So Joe picks up 10,000 shares of hotstock at 50 cents each. For a month or so the stock does nothing, up a little then down a little. THEN BAM!!! All of a sudden some news comes out, things are looking positive. Maybe a newsletter is published on line predicting great things for this company. Volumes shoot up and before Joe has time to catch his breath, the PPS has risen all the way to more than $1.00
Joe now has $10,000 invested in the company, he forgets that $5,000 is profit and he kicks himself for not taking that $20,000 sitting in another savings vehicle and investing that too...."Damn, I coulda had $50,000 today".
The stock keeps moving up, Joe now checks every day, reading every article and signing up for news alerts about anything that is even remotely related to hotstock and the industry its involed in.
$1.50, $1.75....Holy freakin' cheese curds, more than $2.00 a share!!! I wish I'd heard of this company when it was trading for a dime, hell even 20 cents, Joe thinks to himself. 10,000 shares at $2, that's $20,000 dollars I have now, he thinks proudly, "I'm a genius...."
Then the stock moves down, not much, but its struggling...is down to $1.90, and can't seem to hold that $2.00 it was at before. Joe has completely forgotten that his initial investment was $5,000....he now regards that $20,000 as rightfully his. But the stock moves down a bit more, hitting $1.80....
I still have that $20,000 Joe thinks, and there are some guys bashing the stock on a message board...HEY, THEY PROBABLY SOLD IT SHORT, OR THEY WANT MY SHARES CHEAP!!! I'll show those bastids....I'll buy more.
I'll end my little story there...but suffice to say with otc penny stocks, it usually doesn't end well.