Stock market investing using penny stocks.
If you are interested in investing in the stock market, you probably try to buy low to sell high unless you invest to earn dividends. However, in this example, I discuss why I sold earlier than planned to buy back the same stock again.
I decided to liquidate to take earned profits from stocks I bought low. I decided to sell off stock shares to pay off bad debt. My goal is to enter the year of 2023 debt free.
In a video, I show how I sell off specific shares of stock (using the Fidelity App) to receive the most profit while keeping my Basis Cost Per Share low. I cashed out penny shares of stock and gained a profit of $4,800.00. Considering I invested in penny stocks, the capital gain earned is impressive. Not too shabby from an investor who did not start investing in the stock market until about age fifty. Considering the turn of events with the economy and the decreased value of the dollar, I figured learning how to dabble in the stock market by investing in futuristic companies was a once-in-a-lifetime chance.
Yes, investing in penny stocks can be profitable. There are several pros to investing in penny stocks, such as the potential for rapid gains, the ability to build a diversified portfolio without spending a lot of money, and the potential for growth with newly listed companies. However, there are also several cons to investing in penny stocks, such as the lack of track records for companies, more losses than gains, low trading volume, and the risk of scams.
My name is Michelle Cesare, and I’m the creator of MyIncomeJob.com.
I started investing at about age 50 and gained experience investing in the stock market using penny stocks.
Dabbling with penny stocks gave me the confidence to invest in the stock market and taught me about wash sales, dividend earnings, buy low, sell high, and the tax benefits of taking a loss.
I can share that I gained a profit and paid off a chunk of debt. I got the experience and now have more of a financial education to invest more wisely to use in my later years.
Learn how I sell off stock to gain a profit AND why I bought back the same stock.
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