Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

DE asked in Business & FinanceInvesting · 3 years ago

How can I get wealthy with penny stocks?

What are the best penny stocks on the market? What are trusted research sites and apps to use for penny stocks?

12 Answers

Relevance
  • 3 years ago
    Favorite Answer

    Penny stocks ARE NOT for newbies. Only those with trading experience should consider trading in pennies since they understand the market, the risk and the problems associated with penny stocks.

    Those with securities experience will tell you that you are foolish to start in the market by using penny stocks and those that are in business will tell you not to do it.

    So with experienced investors/traders telling you not to do it, and those that are professional tell you not to do it, and even the Securities & Exchange will not recommend you do it, why do you think you can make any money.

    Before you enter an order for penny stock, read what the SEC has published regarding penny stocks http://www.sec.gov/investor/pubs/microca%E2%80%A6

    The major firms on Wall Street do not and would not trade/invest in penny stocks,

    Professional traders/investors do not and would not trade/invest in penny stocks,

    Experienced traders/investors do not and would trade/invest in penny stocks,

    Those that understand the markets do not and would not trade/invest in penny stocks,

    The Federal Government prohibits broker/dealers from recommending penny stocks,

    The Government tells brokers and the general public not to invest/trade penny stocks.

    Only those with little or no experience in the market believe that penny stocks can be investment vehicles, they don’t know that the majority of penny stocks do not trade in a regulated market, nor do they know what a regulated market means, but that’s understandable since they nor do they know very little or nothing about how a real market operates and are gullible enough to believe whatever they read about such crap.

    If Professional, & experienced insiders along with regulators do not think one should get involved with Penny Stocks, why do you, a newbie, think you should.

  • JohnO
    Lv 4
    3 years ago

    You can't.

  • 3 years ago

    Look for recommended Forex brokers with binary options who have a platform with advanced charting capacities. Only the best brokers work diligently to improve the charting experience of their clients.

  • kswck2
    Lv 7
    3 years ago

    You cannot.. They are for suckers and professionals-and YOU are neither.

  • How do you think about the answers? You can sign in to vote the answer.
  • 3 years ago

    You can't. Penny stocks are gambling, not investing so you will invariably lose your money in the long run.

  • Judy
    Lv 7
    3 years ago

    Penny stocks are very volatile - it's possible eto get lucky and make a lot of money on one, more likely to lose money.

  • 3 years ago

    By selling them to unsuspecting idiots....oh wait... you want to buy some..

  • 3 years ago

    HOLD THEM 20 YEARS OR LONGER, MORE THAN 90% ARE JUNK !!

  • 3 years ago

    There are no "best" penny stocks - the reason their value is so low is because most of them are on the verge of bankruptcy. And no one does research on penny stocks since good investors stay away from them.

  • mokrie
    Lv 7
    3 years ago

    There is a 99.9% chance of losing all your money. Out of a million penny stocks only ONE may go up in value.

Still have questions? Get your answers by asking now.