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By Knight-Ridder News Service | July 14, 1991
If you can afford to go to Las Vegas, put a pile of money on one number and spin the roulette wheel, then you may be able to afford to invest in penny stocks.But if you invest the grocery money, you may go hungry.Penny stocks are cheap securities, usually selling for under $5 a share, that are not traded on any national market."With these kinds of stock, if you invest any money in them you better be prepared to lose it, because that's the nature of speculative investments," said Alan Ford, an official with the Kansas securities commissioner's office.
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BUSINESS
By New York Times News Service | September 23, 2007
Check your e-mail, and chances are it holds several get-rich-quick offers to buy a hot stock in a tiny, unknown company. The promotion of penny stocks, for years a staple of Internet spam and "boiler rooms" running illegal pump-and-dump schemes, has recently burst forth in splashy full-page ads in major daily newspapers. Penny stocks are volatile, risky, thinly traded securities issued by minuscule companies that are disproportionately known for having big losses, meager sales, cozy insider management and scant or unverifiable financial data.
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By SUSAN BONDY and SUSAN BONDY,Creators Syndicate | July 23, 1995
Q: I would like to learn more about penny stocks. Any information you can offer will be very much appreciated.A: There's an old story about penny stocks that goes like this:A broker calls his client, saying: "I have a terrific penny stock. It's selling for 10 cents a share, and I think it's going to go through the roof!"Client: "OK, buy me 10,000 shares."The next day, the broker calls back: "That 10-cent stock we bought yesterday is up to 20 cents a share, and I think it's going to go through the roof!"
BUSINESS
By JAY HANCOCK | February 4, 2004
Last week Jerry Wenger, former Columbia resident and former host of The Next SuperStock national radio show, received a well-deserved reward for a prominent career in securities analysis: 46 months in a federal prison. "I expect it to be a camp," says his lawyer. Better it should be a supermax slammer with peeling paint, but we'll take it. Crime occurred, prosecutors bestirred themselves, a jury did the right thing, and a judge sealed the deal Jan. 28. High time, too. Wenger has been, shall we say, a person of interest to the Securities and Exchange Commission and the Justice Department for years.
FEATURES
By SUSAN BONDY and SUSAN BONDY,Creators Syndicate | July 24, 1994
Q: Several years ago, I briefly became interested in so-called penny stocks and purchased several different ones. They have turned out to be "cents-less" investments.I'd like to unload them this year for tax purposes, but for the most part, the proceeds won't even cover the broker commission fees. Is there a provision for reporting such stocks as tax write-offs without actually selling them?A: Yours is really a three-part question:1) What is the Internal Revenue Service definition of "worthless securities"?
BUSINESS
By JAY HANCOCK | February 4, 2004
Last week Jerry Wenger, former Columbia resident and former host of The Next SuperStock national radio show, received a well-deserved reward for a prominent career in securities analysis: 46 months in a federal prison. "I expect it to be a camp," says his lawyer. Better it should be a supermax slammer with peeling paint, but we'll take it. Crime occurred, prosecutors bestirred themselves, a jury did the right thing, and a judge sealed the deal Jan. 28. High time, too. Wenger has been, shall we say, a person of interest to the Securities and Exchange Commission and the Justice Department for years.
BUSINESS
By Jane Bryant Quinn and Jane Bryant Quinn,Washington Post Writers Group | February 2, 1998
AS THE stock market rises, so does the amount of fraud. If Willie Sutton were alive today, he wouldn't rob banks, he'd set up a thieving stockbrokerage house.The bad guys generally tout "penny stocks" -- stocks priced under $5 a share or perhaps just a little bit more.These stocks are often listed on the OTC Bulletin Board or Nasdaq SmallCap Market. Both are overseen by the National Association of Securities Dealers (NASD), so many investors take the listing as a seal of approval.Not so. The Bulletin Board will list any stock that comes along, even empty shells.
BUSINESS
By George E. Nichols and George E. Nichols,MORNINGSTAR.COM | March 4, 2001
Now that tech stocks and other richly priced equities have been smashed, investors are more aware of the downside associated with such risky investments. However, I think that market observers need only look to the world of penny stocks to see that speculative fever is far from dead. Investors chasing penny stocks often delude themselves into thinking these stocks are bargains. But investors need to know the dangers associated with penny stocks. What is a penny stock? The Securities and Exchange Commission provides an official 1,000-word definition but, loosely speaking, these are stocks that trade for less than $5 per share.
BUSINESS
By BLOOMBERG NEWS | September 23, 1997
WASHINGTON -- Securities and Exchange Commission Chairman Arthur Levitt told Congress yesterday that he is exploring rule changes aimed at cracking down further on the persistent problem of small-company stock fraud."
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | December 12, 1990
Many of the nation's "penny stock" firms are closing their doors. They're running away from tougher federal regulations, their own bad reputations and a sluggish economy.Stuart-James Co., the nation's biggest broker of low-priced stocks selling for $5 or less per share, recently pulled out of the securities business. Earlier this year, another penny stock giant, Blinder Robinson & Co., sought Chapter 11 bankruptcy protection.According to the Securities and Exchange Commission, the number of securities firms offering these equities has dwindled from 337 to 255 over the past two years.
BUSINESS
By George E. Nichols and George E. Nichols,MORNINGSTAR.COM | March 4, 2001
Now that tech stocks and other richly priced equities have been smashed, investors are more aware of the downside associated with such risky investments. However, I think that market observers need only look to the world of penny stocks to see that speculative fever is far from dead. Investors chasing penny stocks often delude themselves into thinking these stocks are bargains. But investors need to know the dangers associated with penny stocks. What is a penny stock? The Securities and Exchange Commission provides an official 1,000-word definition but, loosely speaking, these are stocks that trade for less than $5 per share.
BUSINESS
By Jane Bryant Quinn and Jane Bryant Quinn,Washington Post Writers Group | February 2, 1998
AS THE stock market rises, so does the amount of fraud. If Willie Sutton were alive today, he wouldn't rob banks, he'd set up a thieving stockbrokerage house.The bad guys generally tout "penny stocks" -- stocks priced under $5 a share or perhaps just a little bit more.These stocks are often listed on the OTC Bulletin Board or Nasdaq SmallCap Market. Both are overseen by the National Association of Securities Dealers (NASD), so many investors take the listing as a seal of approval.Not so. The Bulletin Board will list any stock that comes along, even empty shells.
BUSINESS
By Julius Westheimer | December 3, 1997
IN December -- historically Wall Street's strongest month -- where do you put your money? Here are several suggestions:PROVEN RECORD: With no guarantees from Ticker, the December Smart Money claims, "Over six years our annual list of 'Stocks to Double' produced an average 154 percent gain the following year." The letter's 1998 candidates to double or more next year: Earth Sciences (mining, chemical extraction, Nasdaq); Isramco (oil exploration in Israel, Nasdaq); U.S. Gold (gold mining, Nasdaq)
BUSINESS
By BLOOMBERG NEWS | September 23, 1997
WASHINGTON -- Securities and Exchange Commission Chairman Arthur Levitt told Congress yesterday that he is exploring rule changes aimed at cracking down further on the persistent problem of small-company stock fraud."
FEATURES
By SUSAN BONDY and SUSAN BONDY,Creators Syndicate | July 23, 1995
Q: I would like to learn more about penny stocks. Any information you can offer will be very much appreciated.A: There's an old story about penny stocks that goes like this:A broker calls his client, saying: "I have a terrific penny stock. It's selling for 10 cents a share, and I think it's going to go through the roof!"Client: "OK, buy me 10,000 shares."The next day, the broker calls back: "That 10-cent stock we bought yesterday is up to 20 cents a share, and I think it's going to go through the roof!"
FEATURES
By SUSAN BONDY and SUSAN BONDY,Creators Syndicate | July 24, 1994
Q: Several years ago, I briefly became interested in so-called penny stocks and purchased several different ones. They have turned out to be "cents-less" investments.I'd like to unload them this year for tax purposes, but for the most part, the proceeds won't even cover the broker commission fees. Is there a provision for reporting such stocks as tax write-offs without actually selling them?A: Yours is really a three-part question:1) What is the Internal Revenue Service definition of "worthless securities"?
BUSINESS
By Julius Westheimer | December 3, 1997
IN December -- historically Wall Street's strongest month -- where do you put your money? Here are several suggestions:PROVEN RECORD: With no guarantees from Ticker, the December Smart Money claims, "Over six years our annual list of 'Stocks to Double' produced an average 154 percent gain the following year." The letter's 1998 candidates to double or more next year: Earth Sciences (mining, chemical extraction, Nasdaq); Isramco (oil exploration in Israel, Nasdaq); U.S. Gold (gold mining, Nasdaq)
BUSINESS
By New York Times News Service | September 23, 2007
Check your e-mail, and chances are it holds several get-rich-quick offers to buy a hot stock in a tiny, unknown company. The promotion of penny stocks, for years a staple of Internet spam and "boiler rooms" running illegal pump-and-dump schemes, has recently burst forth in splashy full-page ads in major daily newspapers. Penny stocks are volatile, risky, thinly traded securities issued by minuscule companies that are disproportionately known for having big losses, meager sales, cozy insider management and scant or unverifiable financial data.
BUSINESS
By Knight-Ridder News Service | July 14, 1991
If you can afford to go to Las Vegas, put a pile of money on one number and spin the roulette wheel, then you may be able to afford to invest in penny stocks.But if you invest the grocery money, you may go hungry.Penny stocks are cheap securities, usually selling for under $5 a share, that are not traded on any national market."With these kinds of stock, if you invest any money in them you better be prepared to lose it, because that's the nature of speculative investments," said Alan Ford, an official with the Kansas securities commissioner's office.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | December 12, 1990
Many of the nation's "penny stock" firms are closing their doors. They're running away from tougher federal regulations, their own bad reputations and a sluggish economy.Stuart-James Co., the nation's biggest broker of low-priced stocks selling for $5 or less per share, recently pulled out of the securities business. Earlier this year, another penny stock giant, Blinder Robinson & Co., sought Chapter 11 bankruptcy protection.According to the Securities and Exchange Commission, the number of securities firms offering these equities has dwindled from 337 to 255 over the past two years.
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