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Should there be a separate Penny Stonk thread?  

58 members have voted

  1. 1. Speaketh yer mind Surlites

    • Keep everything in the Stonk thread
    • Make a new thread focused on Penny Stonks
    • Whatever RCRanger says is good by me
    • I'm good either way
    • Dickbutt - tree fiddy - OUsux - I just wanted to vote

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  • Poll closed on 02/04/2021 at 05:00 AM

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Didn't get to my sell on SNVP so I took it down. Will survey how things look tomorrow. It held up better than I expected when it lost the penny, even managed to regain it a few times. I'm still on the lookout to sell out of my position though.

XMET is now more valuable than my TSNP position and approaching my ALPP position. Speaking of which, ALPP is doing perfectly what I wanted it to do this week. Churning Churning Churning until Nasdaq

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12 minutes ago, KYHorn said:

How do taxes work on these kinds of things? The selling is a taxable event, even without taking it out of the account, right? If so, you could hold on to the shares you got at .013 and still owe taxes on the initial selling, correct? I'm just wanting to make sure come next April that I don't put myself on the hook for a large tax bill based on earnings I have tied up in current stocks. 

You owe tax on what you sell when you sell it, doesn’t matter what you do with the proceeds. If you sell part of what you bought, your gain is based on the cost basis per share.

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5 minutes ago, RCRanger03 said:

Didn't get to my sell on SNVP so I took it down. Will survey how things look tomorrow. It held up better than I expected when it lost the penny, even managed to regain it a few times. I'm still on the lookout to sell out of my position though.

XMET is now more valuable than my TSNP position and approaching my ALPP position. Speaking of which, ALPP is doing perfectly what I wanted it to do this week. Churning Churning Churning until Nasdaq

Think we'll see a dip with the dilution prior to uplisting? 

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Just now, cam4mav said:

general idea behind nasdaq listing is that big money institutions can buy into it? and stock goes brrrrr?

401ks, Institutional Buyers, Retail that can't buy OTC, ETFs could even pick it up. Cathie Wood who is shopping an Aerospace ETF gave a webinar yesterday that basically name dropped Vayu (fast delivering medications in Africa by drone) and there is noise that they'll get picked up there.

I've never been a part of an OTC uplist that actually happened, so this is new territory for me though. My mind tells me to temper my expectations of what will happen to the PPS, but my heart tells me $20 by the end of the year.

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30 minutes ago, Burt Macklin said:

The Level 2’s shown pretty big gaps all day. Not sure why exactly. I wanted to see if it would move so I sold 100,000 shares at .0145 and then was able to buy them back at .013. 

 

20 minutes ago, KYHorn said:

How do taxes work on these kinds of things? The selling is a taxable event, even without taking it out of the account, right? If so, you could hold on to the shares you got at .013 and still owe taxes on the initial selling, correct? I'm just wanting to make sure come next April that I don't put myself on the hook for a large tax bill based on earnings I have tied up in current stocks. 

 

8 minutes ago, Brew said:

You owe tax on what you sell when you sell it, doesn’t matter what you do with the proceeds. If you sell part of what you bought, your gain is based on the cost basis per share.

if the applicable tax rate is 20%.... and cost basic for Burt for those 100,000 shares was $0.0100, sold at $0.0145, net profit $1,450 - $1,000 = $450, taxes = $90

buys back in at $0.013 x 100,000 = $1,300 position, $90 taxes owed, $60 extra in bank (or spent on more shares)

 

Did I do that right? 

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3 minutes ago, RCRanger03 said:

401ks, Institutional Buyers, Retail that can't buy OTC, ETFs could even pick it up. Cathie Wood who is shopping an Aerospace ETF gave a webinar yesterday that basically name dropped Vayu (fast delivering medications in Africa by drone) and there is noise that they'll get picked up there.

I've never been a part of an OTC uplist that actually happened, so this is new territory for me though. My mind tells me to temper my expectations of what will happen to the PPS, but my heart tells me $20 by the end of the year.

That's exciting

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Just now, Anastasis said:

stonks only go up. 

Tax talk not going away.

 

Nothing hurt by trying to estimate but so much of the tax software out there will take care of all this for you. TurboTax linked to My TD Ameritrade account directly and just imported everything. Did a quick spot check but pretty seamless.

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Just now, ZB'Tejas said:

TurboTax linked to My TD Ameritrade account directly and just imported everything.

Yeah, same with Schwab.  Just import and let the computron figure all that shit out. 

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4 minutes ago, ZB'Tejas said:

Tax talk not going away.

 

Nothing hurt by trying to estimate but so much of the tax software out there will take care of all this for you. TurboTax linked to My TD Ameritrade account directly and just imported everything. Did a quick spot check but pretty seamless.

Thank God for that

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@RCRanger03 do you know why there were such large gaps between bid and ask on PFMS for most of the day (it was pretty consistently about .004)? I haven’t paid close attention to it before so I’m not sure if that’s common, but it seems larger than other similarly priced stocks I’ve seen.  

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11 minutes ago, Burt Macklin said:

@RCRanger03 do you know why there were such large gaps between bid and ask on PFMS for most of the day (it was pretty consistently about .004)? I haven’t paid close attention to it before so I’m not sure if that’s common, but it seems larger than other similarly priced stocks I’ve seen.  

People trying to get in or add as low as possible on the BID, but also a general sentiment that it's going to go up so not undercutting the ASK. You'll see big gaps like that on runs, and recoveries from a big dip as people are trying to feel out which way the wind is blowing.

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Anyone who got something on the amazon list PM your contact info, my wife at the very least wants to send you a thank you card. Some of those already started coming in and it's pretty cool of yall. I will say though that while I had a great time playing Catan it almost ended my marriage lol

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3 minutes ago, RCRanger03 said:

Anyone who got something on the amazon list PM your contact info, my wife at the very least wants to send you a thank you card. Some of those already started coming in and it's pretty cool of yall. I will say though that while I had a great time playing Catan it almost ended my marriage lol

You traded all your ore to your wife, then took it all back with a monopoly, didn't you? That thinking may work well for you with stocks, but it won't in marriage.

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59 minutes ago, KYHorn said:

How do taxes work on these kinds of things? The selling is a taxable event, even without taking it out of the account, right? If so, you could hold on to the shares you got at .013 and still owe taxes on the initial selling, correct? I'm just wanting to make sure come next April that I don't put myself on the hook for a large tax bill based on earnings I have tied up in current stocks. 

 

47 minutes ago, Brew said:

You owe tax on what you sell when you sell it, doesn’t matter what you do with the proceeds. If you sell part of what you bought, your gain is based on the cost basis per share.

yes,  I'll add an example.  You also have Long Term vs Short Term capital gains depending if it was held for over a year or not.  Let's keep it simple that you are staying short term on these.

If you buy 100 shares in stock A at .10/share for $10 and sell half 4 weeks later for .15/share for $7.50.  Your cost basis (what you paid) on those 50 shares you sold was $5 so you realized $2.50 in profit (short term capital gains) that you have to pay taxes on.  The $5 was initial investment and not taxed.

Whomever you use as your broker should have information on this for you and you need to look into wash sales and loss harvesting.

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You’re too nice of a guy for my usual response to something like this.
Haha I've been on shaggy or surly since 2007, and I've worked with the chronically homeless for 6 years there's no need to hold anything back. I've gotten linked to the stupid shit my wife says thread more times than I can count.

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I haven't had much time to research yet, but does anyone know anything about IMTL?  It did some crazy volume today (over 1B) and is up 355% on the day.  Still a relatively low share price at .0091. The market cap is only about $5MM.  According to OTC, there's 3.75B A/S with 2.5B outstanding but only a 287MM float.  The float date is 3/31/19 so I'm guessing that number is wrong, but I saw a tweet stating the insider purchasing has been heavy.  It looks like their CEO bought over 129MM shares in 2019, which was much higher than previous years (https://www.insider-monitor.com/trading/cik1110648.html). 

Their financials on the OTC site are from 2019 but are pretty small and they only have 6 employees on LinkedIn, so hard to tell if there's anything to this company or if it's a P&D. Their website, at least, looks legit. https://www.imageprotect.com/

 

 

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39 minutes ago, Burt Macklin said:

I haven't had much time to research yet, but does anyone know anything about IMTL?  It did some crazy volume today (over 1B) and is up 355% on the day.  Still a relatively low share price at .0091. The market cap is only about $5MM.  According to OTC, there's 3.75B A/S with 2.5B outstanding but only a 287MM float.  The float date is 3/31/19 so I'm guessing that number is wrong, but I saw a tweet stating the insider purchasing has been heavy.  It looks like their CEO bought over 129MM shares in 2019, which was much higher than previous years (https://www.insider-monitor.com/trading/cik1110648.html). 

Their financials on the OTC site are from 2019 but are pretty small and they only have 6 employees on LinkedIn, so hard to tell if there's anything to this company or if it's a P&D. Their website, at least, looks legit. https://www.imageprotect.com/

 

 

TLDR. STONK. STRONG BUY. 

Unfortunately they are currently killing it on one of my watch lists. Yay.

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8 minutes ago, bluto said:

Re David Lazar, just noticed the attorney on his plays is out of Arlington Tx. Gal who graduated from aggie law school in ‘15. Solo attorney office

*Places XMET sell order*

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1 minute ago, PenelopeWitherspoon said:


Short term losses are netted against short term gains no matter what. The carryover is limited once you cross the category from short to long term.

Short term losses can also offset long term gains, but only if they exceed your short term gains. If you have $10K in ST losses in one security, $5K in ST gains in another, and $7K in LT gains in a 3rd, net/net you’ll pay zero in ST, and the LT rate on $2K, with no carryover.

 

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Short term losses can also offset long term gains, but only if they exceed your short term gains. If you have $10K in ST losses in one security, $5K in ST gains in another, and $7K in LT gains in a 3rd, net/net you’ll pay zero in ST, and the LT rate on $2K, with no carryover.
 

Yip.
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15 minutes ago, Trey3216 said:

Holy shit. FPVD/BIGToken predicting $400mm in revenue by 2022.   This thing is gonna go to multi-dollar land.   

Saw the screen shot on stocktwits, but that’s from May 2020. What am I missing? 

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Just now, Hank_Hill said:

Saw the screen shot on stocktwits, but that’s from May 2020. What am I missing? 

The company just sent that tweet out apparently.   I did not check the date of the screen shot 

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FPVD might have been one of my first penny purchases without a recommendation from this board. I had no clue what I was investing in bit made little money while I learned how this shit works. I flipped it a couple times and then bought a measly $220 worth at .0022 once Ranger started recommending it. I let that amount ride from there, swing trading other buys into it along the way. 
 

Looking back, it’s funny how little I invested in it but who the fuck was this Ranger guy and what did he know?

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8 hours ago, Trey3216 said:

Holy shit. FPVD/BIGToken predicting $400mm in revenue by 2022.   This thing is gonna go to multi-dollar land.   

8 hours ago, Hank_Hill said:

Saw the screen shot on stocktwits, but that’s from May 2020. What am I missing? 

8 hours ago, Trey3216 said:

The company just sent that tweet out apparently.   I did not check the date of the screen shot 

Bruh I post all that info 2 months ago, search my username and FPVD and you'll find some of my DD it's from SRAX CEO Chris M. before they decided to spin BigToken out of SRAX. I've been asking Lou Kerner to commit to similar numbers, but he's not been interested. It is the reason that I decided to hold on to most of mine though. From $2M revs last year to $6M rev this year projected (actually from their most recent presentation) is a reasonable and great jump as the company grows, but jumping from $6M to $400M in the next year is magnitudes different.

6 hours ago, Coelenterate Fuccboi said:

Looking back, it’s funny how little I invested in it but who the fuck was this Ranger guy and what did he know?

Your initial assessment of me was spot on haha

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25 minutes ago, RCRanger03 said:

Oh shit I've got 4 T Trading OTC positions so far on no news... It's gonna be a crazy day

SNVP at .0095

FPVD at .06

TSNP at 1.44

ALPP at 8.55

These seem like (forgive my use of the word here) relatively reasonable tradition positions? Does this indicate new support at these post-run-up levels? I wouldn't mind a few relatively calm days.

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8 minutes ago, Coelenterate Fuccboi said:

Do you need to borrow some rocket fuel? If you’re not interested, I’m sure there’s a government securities discussion forum out there for you.

Someone find me the number for the office of the US treasury, STAT.

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These seem like (forgive my use of the word here) relatively reasonable tradition positions? Does this indicate new support at these post-run-up levels? I wouldn't mind a few relatively calm days.
T trades in the OTC at least on normal times are the sign of a quick move off the bell in one direction or the other.

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ALPP and TSNP were just added to WeBull should see a wave of new investors today

WDLF just retired a bunch of debt and it's been one I've been thinking of buying. Wasn't in position with funds yet and might gap off the bell though

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14 minutes ago, RCRanger03 said:

ALPP and TSNP were just added to WeBull should see a wave of new investors today

WDLF just retired a bunch of debt and it's been one I've been thinking of buying. Wasn't in position with funds yet and might gap off the bell though

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Well that's nice

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Regarding TDs fees. Here’s my response this morning

Hi, thanks for holding on there, all commission cases now go through management since we lowered our commission rates a while back. What I can do at this time is submit a case for you and you can expect to hear back from us in 1 to 2 business days.

Just lowered?? Whatever but I’ll update when I hear back


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22 minutes ago, RCRanger03 said:

ALPP and TSNP were just added to WeBull should see a wave of new investors today

WDLF just retired a bunch of debt and it's been one I've been thinking of buying. Wasn't in position with funds yet and might gap off the bell though

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I'm riding 750,000 free shares of WDLF from a random pick up back in December.  It's been nice to see it finally wake up and start moving the last couple of weeks.

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