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Many new investors are lured to the appeal of a penny stock due to the low price and potential for rapid growth which may be as high as several hundred percent in a few days. Similarly, severe loss can occur and many penny stocks lose all of their value in the long term. Accordingly, the SEC warns that penny stocks are high risk investments and new investors should be aware of the risks involved but you can even make very big money. These risks include limited liquidity, lack of financial reporting, and fraud. A penny stock is a common stock that trades for less than $5 a share. While penny stocks generally are quoted over-the-counter, such as on the OTC Bulletin Board or in the Pink Sheets, they may also trade on securities exchanges, including foreign securities exchanges. In addition, penny stocks include the securities of certain private companies with no active trading market. Although a penny stock is said to be "thinly traded," share volumes traded daily can be in the hundreds of millions for a sub-penny stock. Legitimate information on penny stock companies can be difficult to find and a stock can be easily manipulated.
It's 1300 bucks worth of stock. You should just sell out and eat the paltry loss. 100 bucks or less is NOTHING. short of that, if you're willing to wait a few weeks in hope of a small bump...try a limit sell order at 65 or so.
WIthout knowing the stock you have and the fees associated with the trade this is tough
I would hold the stock longer and wait for it to go back to at least the original purchase price maybe back to the 70.
Depends if there was negative news for thee company or is it effected on the downtrend today.
You cant sell a stock that you overpaid for and make money.
Unless you have a lot more money and put more money in it. at 57 and hope it all evens out.
You can't sell stock at a loss and make money. By definition, selling something for less that it cost is losing money.
Within limitations, you can deduct your losses from income for tax purposes but that only reduces the loss. It doesn't make it profitable.
If you bought it at 66 and it's now selling below that, thly way to make money is to hold it and hope it comes back to enough to cover your costs including commissions, and sell then
I would put a stop loss on it at $57.00, this way I it keeps going done you won't lose more then 5 % of your investment. Plus what ever your fee's are so it with fee's it prob be 10%.
If you sell at a loss, the best you can hope for is a small tax write-off ( i e pay a little less in tax).
the only way to make out ok is if you sell for more than you paid - looks like a loss if you sell in that price range
Hope it comes back up.
Example I have XYZ stock.
On day 1 it opened at $60... I bought 20 shares when the stock hit $66. XYZ stock had a pop and climbed all the way to $70. I held the stock and after the pop and it is now trading around $59 - $62.
What is the best way to dump XYZ stock and still make out ok??
