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Where Penny Stocks Trade II
To continue on your education of the places or stock exchanges for penny stocks, I give you the other three places where penny stocks can be bought and sold. However, I advise you to beware as the experts highly recommend against trading in these penny stock exchanges.
Pink Sheets
The Pink Sheets are probably one of the worse if not the worst penny stock exchanges out there. Anybody looking to profit from penny stocks or even trading penny stocks would do well to avoid and never look into the Pink Sheets. The Pink Sheets originated from the time when the National Quotation Bureau was just a low-tech, paper-dependent industry. It was about 1904 and OTC stocks were being bought and sold through dealers and stock prices and quotes were delivered in pink or yellow sheets. These pink and yellow sheet became the main source of information for OTC stocks and bonds.
Buying and selling in the Pink Sheets is very risky as the system of trade is best described as anarchic. There is no requirement for reporting of the corporation's financial data as a pre-requisite for listing. Sellers of stocks have absolutely no responsibilty to the investors. There are no established rules for penny stock trading. Buying stocks in the Pink Sheets is easy but selling them is exteremely difficult. There is no available data on trading activities or penny stock price fluctuations. The trading process is best described as sporadic and uneven making Pink Sheets the least favorite penny stock exchange place of seasoned penny stock invsetors.
Buying Directly from the Corporation
Another highly discouraged practice is to buy penny stocks directly from the corporation itself. The upside of this is that the investor saves from the broker's commission. The downside of this is the amount you save will probably go to the corporation you are buying from as more often than not they have ask prices that are way beyond the actual value of the stock. Since the corporation's stocks are not publicly traded in the stock market, the investor has no way of knowing the fair market value of the penny stock. Also, selling the penny stocks you bought may prove to be futile as even the corporation itself may not want to buy back their own stocks. The corporation has no responsibility to the investors nor do they give financial information about the company. So aside from Pink Sheets, avoid buying stocks directly from the corporation itself.
Buying Penny Stocks Over the Phone
Buying penny stocks over the phone is probably the stupidest thing any investor can make. After watching the movie 'Boiler Room', investors should have been forewarned of the dangers of buying penny stocks over the phone. 10 out of 10 people that call you to entice you to buy penny stocks of their 'revolutionary and promising corporation' are scammers and are probably promoting non-existent corporations. If ever they do exist they are but shells that are poorly managed and have no real value. Oftentimes these callers sweet talk you and pressure you to buy their penny stocks immediately. Don't fall for this scam and immediately hang-up. Other than a non-existent corporation selling non-existent penny stocks, you also have no way of re-selling these 'penny stocks'. You also have no data about the corporation, the penny stocks or the trading prices.
Pink Sheets
The Pink Sheets are probably one of the worse if not the worst penny stock exchanges out there. Anybody looking to profit from penny stocks or even trading penny stocks would do well to avoid and never look into the Pink Sheets. The Pink Sheets originated from the time when the National Quotation Bureau was just a low-tech, paper-dependent industry. It was about 1904 and OTC stocks were being bought and sold through dealers and stock prices and quotes were delivered in pink or yellow sheets. These pink and yellow sheet became the main source of information for OTC stocks and bonds.
Buying and selling in the Pink Sheets is very risky as the system of trade is best described as anarchic. There is no requirement for reporting of the corporation's financial data as a pre-requisite for listing. Sellers of stocks have absolutely no responsibilty to the investors. There are no established rules for penny stock trading. Buying stocks in the Pink Sheets is easy but selling them is exteremely difficult. There is no available data on trading activities or penny stock price fluctuations. The trading process is best described as sporadic and uneven making Pink Sheets the least favorite penny stock exchange place of seasoned penny stock invsetors.
Buying Directly from the Corporation
Another highly discouraged practice is to buy penny stocks directly from the corporation itself. The upside of this is that the investor saves from the broker's commission. The downside of this is the amount you save will probably go to the corporation you are buying from as more often than not they have ask prices that are way beyond the actual value of the stock. Since the corporation's stocks are not publicly traded in the stock market, the investor has no way of knowing the fair market value of the penny stock. Also, selling the penny stocks you bought may prove to be futile as even the corporation itself may not want to buy back their own stocks. The corporation has no responsibility to the investors nor do they give financial information about the company. So aside from Pink Sheets, avoid buying stocks directly from the corporation itself.
Buying Penny Stocks Over the Phone
Buying penny stocks over the phone is probably the stupidest thing any investor can make. After watching the movie 'Boiler Room', investors should have been forewarned of the dangers of buying penny stocks over the phone. 10 out of 10 people that call you to entice you to buy penny stocks of their 'revolutionary and promising corporation' are scammers and are probably promoting non-existent corporations. If ever they do exist they are but shells that are poorly managed and have no real value. Oftentimes these callers sweet talk you and pressure you to buy their penny stocks immediately. Don't fall for this scam and immediately hang-up. Other than a non-existent corporation selling non-existent penny stocks, you also have no way of re-selling these 'penny stocks'. You also have no data about the corporation, the penny stocks or the trading prices.
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