Good evening,
Knowing when to buy and when to sell is a key skill for successful investing. One common investment strategy is to “buy the dip.” For those who are unfamiliar, this means buying a stock after many investors have been selling it. The idea is to “buy low and sell high.”
That makes sense, doesn’t it? It can, but only if you own the right stocks.
That’s the part of buying the dip that can be a trap for investors, and this trap is most common with penny stocks. These are stocks that are trading below $5 and, in many cases, below $1 (i.e. pennies on the dollar).
Many penny stocks are small-cap stocks that generate little to no revenue, and several of these stocks are from companies that are unprofitable.
In bull markets, these stocks may present an opportunity, but in bear markets, many of these stocks should be avoided.
It can be difficult to sell a penny stock. After all, many investors buy these stocks knowing that they’re long-term plays. But there are times when market conditions dictate that there are better places to invest your capital.
Selling a penny stock, doesn’t mean that you have to say goodbye to them forever, but the end of the year is a particularly good time to think about selling stocks for tax harvesting purposes.
In this presentation, we’re looking at seven penny stocks that investors should sell now. Each has market forces that suggest the stock price still has room to go down. That means selling today can help you get a better price in the futureView the 7 Most Overhyped Penny Stocks to Sell Now
William Bushee
MarketBeat
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