Breaking News >Sumitomo and Mitsubishi have agreed to back Ardea Resources and its $3.1 billion nickel laterite and cobalt project, about 80 kilometres from Kalgoorlie > Stock Symbol > ARRRF
Finding and buying a penny stock is like a treasure hunt. In 1849 many people went to California to strike it rich. That was hard physical work. You can find penny stocks by searching the internet on a laptop looking at news feeds and penny stock newsletters that promote them. I do not subscribe to any penny stock newsletter, but many are on the internet some with free stock picks. Once you find a company of interest the best place to research that company is its own website just subscribe to their press releases or newsletter. Remember the company is promoting their business with optimistic statements. I use marketwatch.com a free website from Dow Jones Company to keep track of my penny stocks. There are many other free websites that you can enter your stocks like Yahoo Finance. These websites also have a paid premium version. The best advice for getting information on a penny stock is just searching the companies name and stock symbol. Always check the date of the web feed. Old feeds linger on the internet for a long time.
There are thousands of penny stocks to choose from. Three industries that I like to look at are mining, medical and technology. In 1849 the slogan was go west! For penny stocks Go Aussie! Australia with its vast open land, minerals and resources is a great place to look for treasure. A great place to search for Australian stocks is on the website hotcopper.com. Free sign up with your email and password. On hotcopper.com you must search using the Australian stock symbol. Each stock has its own blog and news feed. The stock price is quoted in Austrian dollars or cents. You can also get the news of the day from The Market Harold. Many Australian stocks are duel listed and have a US or Canadian symbol and can be purchased through most large brokerage firms. Most foreign stocks your broker will charge an extra $50 foreign stock fee.
Another place to look for penny stocks is Canada! Canada also has unexplored rich resources with many mining companies. For Us and Canada I like the website juniorminingnetwork.com. Sign up for free and you get daily junior mining news. I especially like mining and medical stocks. These penny stocks go through development phases. First phase they have a mining claim or new drug. Then must prove their claim or drug. The next phase they have to find a partner or borrow enough money to support the mine or promote the drug FDA etc. Finally, sell their product and make money. Depending on what phase the company is in it could take a long time so you need patience.
Once you find a penny stock and think it could be a treasure look at the high and low price of the stock for a minimum of at least one year. See if the stock moved sharply up or down and try to find out why by searching old news feeds. Look at the volume traded each day. Very little volume usually means not much interest in the stock. Warning be patient with a low volume stock you will probably pay the higher asking price. Most brokerage firms require using a limit price when buying penny stocks. I recommend you always use a limit price! On many penny stocks there can be a big difference in the buy or sell price so be careful what you bid. When you’re ready to buy start with a very small amount never go all in. Remember penny stocks are startup companies that take years to develop or go bankrupt so be patient. Keep watching the news feeds if the stock still looks promising add to your position. Also, be careful great news from penny stock newsletters etc. can hype up the price for a short time only to go back down.
The money you invest in penny stocks must be money you can afford to lose. I Justify it as looking for treasure. For a little amount of money, you can hit big. As any other investment diversify. Buy more shares if the stock has good news and try to sell on bad news. If the stock goes up a lot sell a portion and hold on to the rest. If the stock goes down or has no bad news buy more. Remember always buy small amounts at a time do not go all in. I do not recommend any stocks on my website but if you find a penny stock that’s interesting post a comment. Good luck!