2509: What is a Penny Stock? by Jeff Rose of Good Financial Cents on Avoiding Investment Schemes and Understanding the Stock Market

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Self-improvement, Education, Business

4.5 • 1.3K Ratings

🗓️ 7 November 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jeff Rose talks about penny stocks Episode 2509: What is a Penny Stock? by Jeff Rose of Good Financial Cents on Avoiding Investment Schemes and Understanding the Stock Market Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance book Soldier of Finance. Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. His work is regularly featured in Forbes, Business Insider, Inc.com and Entrepreneur. The original post is located here: https://www.goodfinancialcents.com/what-is-a-penny-stock-scam-pump-and-dump/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, episode 2 509.
0:04.0	What is a penny stock?
0:06.0	By Jeff Rose of Good Financial Sense.com.
0:09.0	And I'm your host and personal finance enthusiast, Diana Merriam.
0:13.0	Now let's get right to today's post as we optimize your life. What is a penny stock by Jeff Rose of Good Financial Sense.com.
0:27.0	Being employed in the securities industry has its fair share of unique and challenging situations. One situation that I always
0:34.9	find comical is when a client calls me and wants to buy some obscure penny stock
0:39.8	that they claim is the next sure thing.
0:42.6	Each time this occurs, it never fails
0:45.0	that the stock is some random recommendation
0:48.0	from the clients, brokers, barber's son-in-law
0:51.2	who guarantees the stock is getting ready to take off.
0:54.0	Every time this occurs, I always sigh to myself and think,
0:58.0	sure it is.
0:59.0	Before you go out and try to strike gold,
1:02.0	let's find out what a penny stock really is and what risks they have.
1:07.0	Penies on dollars.
1:10.0	One would think that a penny stock would cost only pennies, right?
1:13.8	Well, not quite.
1:15.2	Actually, to qualify as a penny stock,
1:17.5	the stock price will be less than $5.
1:20.4	Here are a few other characteristics of a penny stock.
	...

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