Does anyone know anything about the stock market??

[ClayHenry]

A couple of months ago a buddy of mine comes to me and tells me to buy this stock QBid.pk selling for .0022 cents a share. I've never bought any stock and I'm a little skeptical of companies I know nothing about. So I elect to pass on his offer.

Well 2 months later the stock price is now at .018 cents a share and I'm a little disappointed that I didn't follow his advice. Now he's telling me I should buy this stock PCMB.pk selling for .0002 cents a share. I'm still a little skeptical and was wondering if anyone dabbles in these penny stocks?

Also I'm just wondering what these penny stocks are all about, and what is the likelyhood that these companies go out of business. I'm thinking he should sell the QBid stock, but he's convinced it will go to $1 and he will be a millionaire(he invested $1000), does anyone know anything about penny stocks and could you please explain the whole process to some of us laymen, I guess I'm just skeptical and don't understand why these stock prices are so low, and why aren't more people investing in these penny stocks unless virtually all of them go under? Can $$ actually be made this way, and why are these companies even allowed to sell stock at such low prices??

Thanks

 

[GreenDoberman]

Clay,
I could go into all the technical aspects of penny stocks, but I want to save you the time and the trouble.
Do NOT invest in stocks like this. Basically you are getting into a "pump and dump" scheme.
You will lose money and likely so will you friend.
Trust me, DO NOT DO IT.

 

[Dante]

OH NO...odds fishhead posts in THIS thread

no +50000000000
YES - off the board

 

[LucaBrasi]

"The only thing you get from a broker is broker.........."

 

[Fishhead]

Staying away from penny stocks is good advice.

For some interesting STOCK talk, check out the FINANCAl NEWS forum here at the RX.

http://therxforum.com/6/ubb.x?a=frm&s=100090022&f=9053050793 NEWS forum here at the RX.

Personally, I have my own personal trading thread in that forum where I track my own actual buys and sells as they happen.

All in all, a nice little financial forum.

Enjoy

 

[DarrylParsons]

Dante: LOL!!!

Luca B: Good one, very true, I haven't heard that before

ClayH: Nice avatar!

 

[monicus]

There also called pink sheet stocks and I agree with what has already been said. These stocks have large spreads which is same as a sports line having a large spread i.e. bad for investors. Penny stocks also have been used by the mob as their latest money making scheme, know as the 'pump and dump'. Most penny stocks have only 1 or 2 market makers which means they are very easy to manipulate. Listing requirements are very minimal which is also bad for investors and why some compaines go public there. The bottom line is that penny stocks are pennies for a reason, they are low-rent bush league stocks that don't merit your wealth.

 

[djking]

plane and simple, these companies don't exsist. go see Boiler room the movie and don't put a fukkin dime into these noNamers.

 

[forgi]

If you wanna trade a penny stock you know something about it try canbet... they are worth next to nothing right now...but you can hope ladbrokes, chandler, or willihilly take em over to get the us-customers... would go of like a rocket...

greetz
forgi

 

[American]

Watch the movie "Boiler Room" starring Ben Affleck and Vin Diesel, among others. The type of stock you are considering is the same kind of stock they were dealing out of the "chop shop."

Don't buy it. Watch the movie though.

 

[American]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by djking:
plane and simple, these companies don't exsist. go see Boiler room the movie and don't put a fukkin dime into these noNamers.<HR></BLOCKQUOTE>

lol...I didn't see your post. We were thinking the same thing.

 

[bongzanpoker]

what happened to canbet? they aint worth sht anymore. what's changed?

can will hill, ladbrokes take u.s. bettors?

 

[Mr NJ Sports]

Those OTC stocks all suck. They do not report to anyone about anything. Buy real companies.

 

[bettorstalk.com]

PCMB

Is that the right stock symbol as I can't find anything on it.

And what do these 2 companies do?