Penny Stocks

I like to occasionally gamble on the market. We are talking hundreds, not thousands of dollars. So I have bought into the below stocks in recent days, and have gained maybe overall $15.00. I'm searching for others and am wondering if anyone else has a favorite penny stock or two or three...?

ACST
Acasti Pharma Inc
$0.50
+$0.0060
1.21%

BRQS
Borqs Technologies Inc
$0.90
+$0.039
4.49%

INUV
Inuvo Inc
$0.75
+$0.042
5.90%

NAKD
Naked Brand Group Ltd
$0.57
+$0.0067
1.19%

SNDL
Sundial Growers Inc
youtube_trending
This security is a popular search topic on Google
$0.84
-$0.017
2.01%


Photo by Anna Nekrashevich from Pexels

I'm all about crypto, which is pretty similar.

(Not sure if you want me to talk about it in this thread though)

I'm all about buying coffee. Not that the investment is likely to lead to increased cash, or anything, but it certainly take care of my loose change.

Quagmire said:

I'm all about crypto, which is pretty similar.

(Not sure if you want me to talk about it in this thread though)

Click to expand...

What about carbon offset though? Crypto is currently na environmental disaster.

Factbox: How big is Bitcoin's carbon footprint?

The Hammer said:

What about carbon offset though? Crypto is currently na environmental disaster.

Factbox: How big is Bitcoin's carbon footprint?

Click to expand...

That's mostly about Bitcoin. Different cryptocurrencies are produced in different ways, and not all depend on mining the way that Bitcoin does.

Mining is the real culprit here because it uses so much electricity. Last estimate that I heard Bitcoin mining was using .07 of all the electricity production in the entire world. That's huge. That's more than some countries

I don't entirely understand the production end, but I know, like I said, different cryptocurrencies are produced in different ways.

I just did a quick Google search and just by coincidence it turns out that four of my biggest holdings are on the list of the seven most environmentally friendly cryptocurrencies.

Another thing to consider is that China is cracking down hard on bitcoin production right now. Considering that 60% of all the Bitcoin mining in the world was going on in China and that China's energy production is still heavily dependent on coal, and then consider that there are all sorts of environmentally friendly/ renewable energy alternatives being proposed by the people that intend to fill the new mining gap, I think bitcoins reputation as an environmental villain is going to be short-lived.

Also there's a prevailing trend right now in the cryptoverse that seems to be moving away from Bitcoin and into some of these other cryptocurrencies like ethereum and cardano and quite a few others.

Quagmire said:

That's mostly about Bitcoin. Different cryptocurrencies are produced in different ways, and not all depend on mining the way that Bitcoin does.

Mining is the real culprit here because it uses so much electricity. Last estimate that I heard Bitcoin mining was using .07 of all the electricity production in the entire world. That's huge. That's more than some countries

I don't entirely understand the production end, but I know, like I said, different cryptocurrencies are produced in different ways.

I just did a quick Google search and just by coincidence it turns out that four of my biggest holdings are on the list of the seven most environmentally friendly cryptocurrencies.

Another thing to consider is that China is cracking down hard on bitcoin production right now. Considering that 60% of all the Bitcoin mining in the world was going on in China and that China's energy production is still heavily dependent on coal, and then consider that there are all sorts of environmentally friendly/ renewable energy alternatives being proposed by the people that intend to fill the new mining gap, I think bitcoins reputation as an environmental villain is going to be short-lived.

Also there's a prevailing trend right now in the cryptoverse that seems to be moving away from Bitcoin and into some of these other cryptocurrencies like ethereum and cardano and quite a few others.

Click to expand...

Interesting stuff.

I'm a little too intellectually lazy to figure it out (crypto). And like the stock market have always considered it akin to gambling (I grew up in Vegas, so gambling has soured on me).

I'd almost say it's better to be broke then potentially retire via the stock market.

The Hammer said:

Interesting stuff.

I'm a little too intellectually lazy to figure it out (crypto). And like the stock market have always considered it akin to gambling (I grew up in Vegas, so gambling has soured on me).

I'd almost say it's better to be broke then potentially retire via the stock market.

Click to expand...

It is gambling,. The biggest difference is that, unlike Vegas, there are times in the stock market and in cryptocurrency when the odds are in your favor.

Averaged out over a lifetime the stock market's typical ROI is 10% a year.

Quagmire said:

I'm all about crypto, which is pretty similar.

(Not sure if you want me to talk about it in this thread though)

Click to expand...

I have been following crypto. Last year I owned a stock in a company that mines Bitcoin. I paid .74 per share and sold it at a 30% profit (just over a dollar a share). It is now over $20.00 a share and had been over $46.00 a share. Imagine how I felt.

MARA
Marathon Digital Holdings Inc
$25.84
2.30%
+0.58 Today

Salty Booger said:

I have been following crypto. Last year I owned a stock in a company that mines Bitcoin. I paid .74 per share and sold it at a 30% profit (just over a dollar a share). It is now over $20.00 a share and had been over $46.00 a share. Imagine how I felt.

MARA
Marathon Digital Holdings Inc
$25.84
2.30%
+0.58 Today

Click to expand...

Oh I don't have to imagine, Man, believe me I know that feeling very well.

I'm sure anybody who's been in the space for more than a couple of weeks knows that feeling.

It's fairly common for tokens to go from fractions of a penny, to pennies to dollars . . . even to double digit dollars. And pretty quickly too.

Look what just happened with dogecoin:



124 x in less than a year. It happens all the time in crypto, but good luck trying to figure out which coin it's going to happen to next. Kicking yourself for not seeing it coming is sort of like kicking yourself for picking the wrong lottery numbers.

That said, researching whatever it is you're investing in can give you an edge and help bump up your odds.

IMO, if you're trading rather than investing (different games different rules), you're much better off doing what you did: make a nice profit, cash it in, go on to the next thing (although it's always a good idea to hold on to a percentage of your position just in case).

There's a common adage among professional traders, "it's better to leave money on the table then it is to lose money"

Or as one trader puts it, "if you settle for singles and doubles you'll win most of your games. If you go for home runs every time you'll strike out more often than not".

And I can vouch for that. I have more regrets about not selling at a profit then I do about selling, even though I've seen some coins skyrocket after I've sold them too.

I've had to adopt an attitude that after I sell something, what happens with it afterwards is none of my business. Otherwise you can wind up chasing it to the top and that's when you really get hurt.

Realistically, a 30% gain in less than a year is a great return.

If you can do that several times in the same year . . .

@Salty Booger imagine how this guy felt:

https://www.google.com/url?sa=t&sou...cQAg&usg=AOvVaw2ROifDGUVjDYwnV0g7LgJi&ampcf=1

"On May 22, 2010, Jeremy Sturdivant (above) traded two large pizzas for 10,000 Bitcoins from Laszlo Hanyecz — a transaction that would come to inspire the annual Bitcoin Pizza Day celebration"


Those 10,000 Bitcoin would be worth $360 million today. I hope it got there in less than 30 minutes.