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.
Ask the other question, what if it doesn't and they go to zero. What would you do then? Chances are higher of it going to zero right now than being crazy valued, just look at bitcoin after it spiked, it dropped 50% in days. can you handle the loss?
You would maybe become the world's richest man in Dogecoins.
Placing all your eggs in one basket is almost always a bad idea - what if all the countries in t heworld decide to make dogecoins illegal?
Definitely stupid idea. You can put all the money on one horse. Spread your money, buy different currencies: Bitcoin, Litecoin, Darkcoin, Dogecoin, Ripple, Peercoin...
I've been thinking about this for a very long time. I really think this move will pay off in the long run. I mean, what if Doge becomes even more of an epic maymay than it already is? I could become the world's richest man!
Is this a good or bad idea?
