1,230%: Why I Love Penny Stocks
Posted by Rob on September 12th, 2012 at 10:39am
Yes, you read that correctly. I sold IGSM today when it was up 1,230%.
IGSM is a penny stock that I have been in and out of a few times. Let me say this first - it is a horrible company with poor financials and its operations can be described as "shady" at best. It's actually a holding company shell, and its most recent acquisition was a Mom and Pop Sausage Shop. This is not a security that you invest in; it's actually a huge gamble.
But that's what penny stocks are - a gamble. You have to be prepared to lose your entire investment. It's happened to me before, and it will most likely happen again.
I wouldn't recommend IGSM or any other penny stock to anyone. In fact, IGSM will probably have tanked by the time you read this. But if you enjoy a little (actually a lot of) risk in your portfolio, find your own IGSM, do your own due diligence, and perhaps the gamble will pay you a nice return as well.
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