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Stock Investing - Should You Invest in Penny Stocks?
Penny stocks are an unknown entity. I mean really, who is an expert at penny stocks? Who consistently makes money at trading or investing in them?
I don't really know of anyone.
I'm not saying that no one exists who qualifies for that, but I'm not aware of anyone. Those who have made money trading penny stocks are usually one hit wonders. They made their fortune on one stock. It wasn't a consistent thing. They just got the one stock that went from $0.03 to $10 or something like that. You see, penny stocks are like the lottery ticket of the investing world.
They're fun to trade. Lots of fun. You buy a stock and then dream of how wonderful your life will be after you strike it rich. Just like a lottery ticket. I mean, the penny stock traders that I know, they just trade them and mostly lose money. A few do well, but mostly they just lose money.
The reason for this is simple. There just isn't any real data on these companies. They aren't required to file anywhere near the amount of reports that a "regular" publicly traded company is required to file.
So it's hard to get good fundamental data on them.
Also, because they are such low volume stocks, regular technical analysis doesn't really work on them. If you try to use it, you will get skewered readings because there isn't enough volume to back up what the analysis is saying (plus the fact that one large trade can push the market around).
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