Why Invest in Penny Stocks
The Road show just ended to SF & LA and also the nearby Newport Beach where most bored & retired rich people live didn't hook too many marks - hey, just kidding. There were only 100,000 shares traded on Wed. at the US OTC Grey market which is normally dead...Unless the Rayrock/Ivan deal is in trouble despite the latest News Release to the contrary, the most logical explanation is that the stock is purposely being driven down for PP undertaking or options granting, Or, negatively, some of those 4 million $0.04 stock from options exercised were dumped by insiders (they must file insiders report within 5 days). No indication of that happening...We are all in the wrong business here investing in penny stocks. To wit: An LA school invested $15,000 in pre-IPO SnapChat in 2012 and made off like bandits selling off their two-thirds holdings for $24 million... According to the LA Times today," A California high school has made millions of dollars from the initial public offering of shares in Snap Inc., the company behind the Snapchat photo messaging application. The board of the Saint Francis High School in Mountain View agreed to invest $15,000 in seed money in Snap in 2012, when the company was just getting started. It had been invited to do so by one of the student's parents, a venture capital investor, the high school president says in a letter issued to the school community Thursday. The school held onto the investment until this week, when Snap shares sold for $17 each in an IPO. The share price rocketed 44% higher when trading began Thursday. The school was quoted by media including website Quartz as saying it sold two-thirds of its shares at $17 each, to raise $24 million".