What penny stocks to buy
Penny Stocks to Buy 2015 - Top Penny Stocks to Buy
Which Penny Stocks should you buy now? Penny stocks to me are stocks traded below $2.00 per share but most people think Penny Stocks are stocks that are traded below $1.00 or even lower. There is a lot of risk in buying penny stocks for both the long and short term because they are a huge gamble. A penny stock is a penny stock for a reason and chances are the company you are buying is in financial or legal trouble. Thinking a stock that trades below $0.50 is a cheap penny stock is completely false. It is important that you do your research and know the risks of penny stocks before you buy into the company.
Penny Stocks can be found on the New York Stock Exchange (NYSE), Nasdaq, or
Amex. You will find that the majority of penny stocks are traded on the OTC or Pink Sheets Exchanges. I never buy penny stocks traded on the OTC or Pink Sheets exchanges because most of the penny stocks traded there are complete scams. Have you ever heard of SpongeTech Delivery Systems (SPNG.PK)? They had the popular infomercials on ESPN, CNBC, CNN, ect. and sold sponges. The stock exploded when they would come out with contract news and deals with major league baseball teams. SpongeTech Delivery Systems CEO is now facing up to 5 years in prison for falsifying financial statements about sales. The worst thing is the fact that this once hot penny stock ( SPNG popped from $0.01 to $0.24 ) is now only trading at $0.001. Daytraders who held on were virtually wiped out. SPNG now trades under the ticker symbol SPNGQ.Source: www.blackberrystocks.com