Legendary investors, like Leon Cooperman and Howard Marks, among others, have stated on CNBC that episodes like these typically end in tears.For several weeks now, I've been ranting about the wild speculation in low-priced, no-name stocks that have run rampant on Wall Street via Main Street investors.
Back in 1992, I interviewed Meyer Blinder, the self-described "king of the penny stock market," as he was on his way to prison for 40 months for racketeering and money laundering. While there's no single individual hyping penny stocks for a living today, as these two did, there are plenty of individuals on a wide variety of internet sites, message boards and social media outlets, claiming that this or that stock is going to double in a day, or some such claim.
In the late '90s, stocks with no earnings, or sometimes no revenues, rocketed higher only to become worthless when the internet bubble burst.
It's because the compulsive gamblers can't go to casinos, so they've shifted to the stock market. Darn them.
No its not, when you get in first.
I have been doing some day trading but it hasn’t been in a speculative matter at the slightest bit.
They can lose everything!
The stock market is too risky. Put in money you’re okay with losing completely
It’s going to be a bloodbath, but a fool and his money are soon parted.
Of course the billionaires on Wall Street hate retail investors
The canary in the coal mine of every bubble
Didn’t TD Ameritrade report 249% increase since March? Couldn’t the push of the penny stocks be from the uneducated traders watching YT get rich quick schemes?
They’re talking about you Genius Brand
But Spazadaq $NDX and it's usual suspects of $AMZN $MSFT $AAPL etc... going up 1% a day for six days in a row at all time highs is kosher? M'kay....