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Originally Posted by $5 submissions
Not a slam against penny stock investors but isn't there a higher chance of being scammed when playing the penny stock game (ie., OTC BB and pinksheets)? Aren't many of these just "shell" companies?
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of course, the only people who make money are the underwriters and management of the company, who find fools to buy their shares. its the #1 scam, these companies have no real value to offer. when i said you have a higher probability of success betting red or black at a roulette table, i wasn't joking. You take red or black, you get a 47% chance of doubling your money, betting in these stocks, the probability of success is a LOT lower.
someone said that company is trading sideways. that company is down 30% in the last 5 days, thats not trading sideways. thats watching your money evaporate into thin air. actually, its going to the management who decided they needed more money because they already blew it all, so they are issuing more shares to get more money.
this company is exactly 3 seconds away from being at zero.