Featured Stocks
Buying Penny Stocks
Jun 5, 2012
For many investors, buying penny stocks is an excellent way to make some extra money without taking a huge risk. Penny stocks, as defined by the Securities and Exchange Commission (SEC), are stocks currently trading at five dollars or less. Since they are so cheap, it is possible to buy many shares with little capital and reap exponential rewards when the share price increases.
Picking Stocks to Buy
Any penny stock investor's goal is to invest in a small company that hits it big. A stock price that starts at three dollars can easily double, triple or even increase tenfold. Not every penny stock will bring those kinds of returns, of course, but the right penny stocks will.
One important step is choosing listed penny stocks. Even though their prices are low, many of these stocks find their way onto the NYSE, AMEX, NASDAQ or another major exchange. In order to reach these exchanges, companies must meet their criteria. Any company that qualifies to be listed is financially sound, which is one step on the road to success.
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Simple financial security may not guarantee great success. The most successful small companies either find a niche with a great product or ride the wave of a booming industry. The penny stocks to buy now are in companies with great stories and great products in fast-moving industries.
When picking penny stocks, seek out plenty of advice. Any information you get from multiple sources is far more reliable than information that comes from only one source. As such, corroborate any tips you receive with multiple sources before you invest.
Finally, be sure to invest in several penny stocks at once. Even the best-positioned small companies are not guaranteed to succeed, so avoid putting all of your capital in just one stock. A diverse portfolio will minimize your risk and maximize your odds of getting that big return.
Making Money
Just picking the right penny stocks is not quite enough to succeed in the market. Investing can be an emotional experience; because penny stocks are so volatile, the emotional peaks and valleys can exist. Many inexperienced investors become reckless when trading based on emotions.
To really succeed in penny stock investing, you need to make a plan and stick to it. If you keep a level head when you invest, the rewards will be great.
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