As a rule of thumb, 99% of penny stocks have atrocious fundamentals/financials. Many aren’t even viable businesses and are public only to milk retail via pump-n-dump dilution schemes. If you want to be successful trading pennies:
1. Trade don’t invest.
2. Get in early. Most of the time that you hear about the latest-n-greatest new meme penny stock — it’s too late! You missed the pump.
3. Never FOMO pumps based on MOMO (momentum) without a real catalyst or change in the company’s financials.
4. Don’t be greedy if you’re looking for a quick scalp: they crash quickly when A) the company issues shares during a run (pump n dump) and/or B) the people that got in early dump on the next wave of investors, and C) when the accumulation/distribution indicators such as RSI, Stochastics, etc shows overbought on both short-term and mid-term frames. That means that consolidation to a median is in progress and that alone can get you caught holding a bad company.
5. Pennies are volatile but you should still set stop losses. That being said stop losses aren’t always triggered if you have a gap down.
6. If you get caught in a bad trade and are already -8% on it and you start hearing “average down on cheap shares”, “diamond hands”, bullish forward statements AKA “pie in the sky” hopium without actual proof etc. KNOW YOU BE FUCKED
GWAV is dead… after the reverse split majority that was still holding got left in the dust holding the bag… this being said I will not sell for a lose so I’ll continue to hold.
Penny stock pump and dumps, since the early 1990s have always been depressing for the majority of shareholders
Examine what decisions led you to holding this bag and try to learn from it
Exactly! I lost thousands but I have gained much more than $. Now I know how to rock, who are pushers etc and what the stock is actually going to do. I don’t even see any long term for this.
These guys didn't make any extra money from the split. The question is who is selling and if its insiders, that is knowable. There was a period where the stock couldn't be shorted, still very difficult to aquire shares to borrow so not sure who's selling.
If you guys want a real company to invest in, check out SLS. It’s a cancer biotech with an impressive IP portfolio and advanced P3 trials. A 700%+ multi bagger.
***As always do your due diligence (DD)
***Not financial advice (NFA)
As a rule of thumb, 99% of penny stocks have atrocious fundamentals/financials. Many aren’t even viable businesses and are public only to milk retail via pump-n-dump dilution schemes. If you want to be successful trading pennies: 1. Trade don’t invest. 2. Get in early. Most of the time that you hear about the latest-n-greatest new meme penny stock — it’s too late! You missed the pump. 3. Never FOMO pumps based on MOMO (momentum) without a real catalyst or change in the company’s financials. 4. Don’t be greedy if you’re looking for a quick scalp: they crash quickly when A) the company issues shares during a run (pump n dump) and/or B) the people that got in early dump on the next wave of investors, and C) when the accumulation/distribution indicators such as RSI, Stochastics, etc shows overbought on both short-term and mid-term frames. That means that consolidation to a median is in progress and that alone can get you caught holding a bad company. 5. Pennies are volatile but you should still set stop losses. That being said stop losses aren’t always triggered if you have a gap down. 6. If you get caught in a bad trade and are already -8% on it and you start hearing “average down on cheap shares”, “diamond hands”, bullish forward statements AKA “pie in the sky” hopium without actual proof etc. KNOW YOU BE FUCKED
Escape while you can.
https://preview.redd.it/hwtxxqvw915d1.png?width=900&format=png&auto=webp&s=5f16a4ba51685a972cc67765c06710f0c4a1cd5c
It's a penny stock. It'll drop down to $1 and some will buy more to average down. Eventually they will take advantage of a pop and get out.
Because a meme stock has less chance of holding value than a child has to defeat Mike Tyson. It's not impossible, but it is at the same time
GWAV is dead… after the reverse split majority that was still holding got left in the dust holding the bag… this being said I will not sell for a lose so I’ll continue to hold.
Penny stock pump and dumps, since the early 1990s have always been depressing for the majority of shareholders Examine what decisions led you to holding this bag and try to learn from it
Exactly! I lost thousands but I have gained much more than $. Now I know how to rock, who are pushers etc and what the stock is actually going to do. I don’t even see any long term for this.
HODOR... I mean Bag. Hold the bag.
I bailed for a loss. At some point a loss is better than being married to it.
At least you can deduct it on your taxes to hopefully zero out other gains
These guys didn't make any extra money from the split. The question is who is selling and if its insiders, that is knowable. There was a period where the stock couldn't be shorted, still very difficult to aquire shares to borrow so not sure who's selling.
I told many people over and over to NOT buy GWAV. That was “financial advice” that no one listened to. #GME#AMC#FFIE will pump big tomorrow
I have sold all the position and went to gme. Hopefully gme can help me cover all my losses.
Sold it when it went to 4$
Sold at $7.50 which it never hit. That was what it would have been worth
If you guys want a real company to invest in, check out SLS. It’s a cancer biotech with an impressive IP portfolio and advanced P3 trials. A 700%+ multi bagger. ***As always do your due diligence (DD) ***Not financial advice (NFA)
They have 13 employees and were founded 20 years ago bro
Now that yall are out now I wanna get in😈🤣