What do you guys think about buying SIRI stock now that is is sub $4 per share?

 

I think it's a POS...way to many shares outstanding. 1.37 billion shares in the float! In penny land 1.37 billion shares are pathetic, so just imagine a nasdaq stock. I wouldn't go near this. You want to make good returns in the market, find low float stocks IMO.

 

well, do tell of such stocks?

 

Pennies are too volatile, and you have to do your DD and take profits, and know what you are doing. So I'm not suggesting you buy any of them, because you really need to know how the MM's and stuff pull their tactics in the penny market.


However, I got into LFWK at .03 and it closed today at .068

This is one stock that I didn't flip yet, because I think it has huge potential in the mid-long term. If you look at the merger and the companies they are teaming up in Dubai and the fact they cancelled a reverse split saying they have the means to go to nasdaq without one, this could be a real winner. It could also be all hype and not work out. However, I'm not selling any shares of this one until at least .15-.20

Another hot stock right now is WWEN...but I'm not playing it as I feel like it may be to late after the massive increase. I bought in a few days back at .049 and sold at .095

Remember this is a percentage gain. I did pennies when I was younger like 16 and I did it for quite some time, but became to emotional and sold to early. I didn't understand how it all worked. I started with 2k and brought it up to 9k, but then I decided to quit after it came back down to 2k as I wasn't being disciplined with my decisions.

I just got back into it this month, since I'm bored during summer time, and investing $1,000 at a time (no more then 3 investments with $1,000 at a time) within a month I have made $3,400.

However, penny stocks for the most part are pumps and dumps, you just need to know when to get in and out. It's fun and it's not the hardest thing to do or understand, but you can lose fast.

Back to the float thing, the smaller the float, the more volatile, but the faster a stock can run. I don't play any penny stocks with a float more than 300 million shares. Now look at Sirius a nasdaq stock and it has a huge float. Look at the market cap of Sirius at the current price. I doubt it'll ever be a true winner.

Currently, one risky nasdaq stock I am in for a mid term play is POZN. 22.48 million float, and their share price got killed when FDA asked for more information about their new drug Trexiema. If the FDA approves it soon, this will be back in the $12-$15 range in no time.

If you have any question's let me know. Remember I'm not suggesting any of these stocks for you to buy.

 

keep up the work amoeba...pretty soon we'll have to change your name to something more respectable.

 

Amba??

 

 

Now not sure why this turned into a penny stock discussion (aka gambling) but most of the analyst reports like SIRI right now. Plenty of Buy/hold/overweight recommendations out there with estimates of $6.

I personally bought it recently and think it should move up to 5 or 6 within a year. If you are looking for the quick flip then I have no idea how it shapes up.

 

I must be a good gambler then...up more than 100% in a month

 

amoeba, i really would like to get to know more about the so called penny stock. I have about 2000, and planning on investing it on stock through Etrade. thank you

 

congrats. Of course there are plenty of poker players that make big cash too, still gambling.

Hopefully it works out for you in the future as well. It is not investing though.