It has happened. But rarely. If it is a "real company" that took some blows and has a chance of recovery, then sometimes the stock will recover. When PVN and ACF got rocked their stock fell to near pennies but the companies still had huge amounts of sales. Those stocks came back. Do the stocks on the Over the Counter market come back? Never! BTW :welcome
Thank you for your replies. I've been playing around with IVOC and ADOT for a couple of months. Anyone have any others that are worth looking into?
Hi Verbal, I gave up on Penny Stocks a few years back. I dabbled for a bit but bombed out bad on a few of them. Be careful on Internet "pump and dumps". It's very easy to do on the web. They get a small float penny stock, release a bunch of spam press releases, get a few suckers to buy and then they sell. Stock goes back down. Not pretty, so be careful.
Every single investor goes through the phase. You are looking for a needle in a haystack with Penny Stocks. Very few will come to fruition. I'll check out those symbols you quoted and see what's up.
Thanks guys ... Great forum btw. Can you also check out HSAC? Been doing really well with them.
HSAC is at .0025? Have you been trading in and out of it?
[quote:5e082278f4="HappyHarry"]HSAC is at .0025? Have you been trading in and out of it?[/quote:5e082278f4] Actually it's currently at 0.025 ... in late January it was around 0.002. I've really done well with this stock.
"On August 13, 2002, our Board concluded that the liquidation of the Company was the best alternative available for maximizing stockholder value and adopted a Plan of Liquidation and Dissolution (the "Plan"). The Plan was approved by the holders of a majority of the Company's shares on November 27, 2002. The key features of the Plan are (1) filing a Certificate of Dissolution with the Secretary of State of Delaware and thereafter remaining in existence as a non-operating entity for three years; (2) winding up our affairs, including the settlement of any then-outstanding issues with Charter relating to the Asset Sale, selling any remaining non-cash assets of the Company, and taking such action as may be necessary to preserve the value of our assets and distributing our assets in accordance with the Plan; (3) paying our creditors; (4) terminating any of our remaining commercial agreements, relationships or outstanding obligations; (5) resolving our outstanding litigation; (6) establishing a Contingency Reserve for payment of the Company's expenses and liabilities; and (7) preparing to make distributions to our stockholders. " They are out of business and never coming back. I honestly can't for the life of me understand why you would buy a stock like this: it is a bankrupt high speed access carrier. What's the advantage? I'm not bashing you either, I'm genuinely interested. Do you buy like 100,000 shares at a time? Thanks
I was intrigued so I read more. $1.40 dividend on May 2003 and .17 on August 29th. So, if you bought the stock in May and held it you have made a 15,700% return on your money? Congratulations!
I [b:ce2884d393]did [/b:ce2884d393] do really well with this stock. With a portion of the profit I made from the dividends, I purchase more stock. Once again, Im probably the most uninformed investor out there, but I tend to get lucky. would you mind telling me how a bankrupt high speed access carrier's stock continues to go up? Should I expect anything else or would you just take whatever little profit I have from my latest purchase? Thanks again for everyone's input. It's very much appreciated. :D Verbal
Personally I'd cash out now and go with something a wee bit more stable.
It does say they are going to distribute whatever is left over at the end of three years so probably people are buying the stock with that eventuality in mind.
It sounds outlandish that a stock could could reap profits when it's under a penny per, but since I have never really dabbled in a stock like this, who am I to say?? What led you to this stock, if you don't mind me asking?