What are the fees for doing so? Can I purchase them without other fees?
2007-06-13 13:05:48 · 4 answers · asked by Nezz 2 in Business & Finance ➔ Investing
Please do yourself a favor, avoid all penny stocks.
I know they can be tempting, because they are so cheap but the risk and reward ratio does not favor this type of investment.
That said, if you are convinced this is the right thing for you to do, call Scottrade or one of the other brokerage companies. They should be able to execute your order or if they can't they will direct you to someone who can.
2007-06-13 13:44:03 · answer #1 · answered by KhrisB 3 · 1⤊ 0⤋
Penny stocks are cheap for a reason. Buying them would be like hiring a crack addict with a history of identity theft to be your accountant. He/she might ship up and do a great job, but chances are it's not going to work out.
I once invested in a penny stock. It doubled the first month i had it. I sold my stock, waited till it went down, and then moved back in to buy more. Then it dropped like a stone. When i investigated, i discovered that the company actually had only one full time employee, and the spike had been due to one purchase and sale by a mutual fund company.
2007-06-14 01:29:56 · answer #2 · answered by Ninja grape juice 4 · 0⤊ 0⤋
It's simply nuts for a "newbe" to be investing in penny stocks. Do some active investing for about 5 - 10 years before considering this route.
Consider yourself warned.
2007-06-13 23:42:59 · answer #3 · answered by Common Sense 7 · 0⤊ 0⤋
1) Open a brokerage account at Zecco.
2) $0.00
3) Yes.
2007-06-13 21:45:17 · answer #4 · answered by Anonymous · 0⤊ 1⤋