Since November I’ve been playing in the stock market trying to hit some small jackpots in the “penny stock” department (penny stocks are those that trade for anywhere from a few pennies up through a few bucks). I’ve actually been doing pretty good except for losing a few bucks in an ill-timed investment in General Motors (thank you, GGL). Anyway, I thought I would give a brief update of where I’m at with my investing and which stocks seem to be “doing it” for me.
I made a few bucks buying Bank of America last week and Barnes and Noble in December and January, but the real winner for me has been Sirius XM satellite radio. I bought this stock (a LOT of this stock) when it was ranging between 11 cents and 16 cents. Less than 2,000 shares overall, but still a decent amount. Today the stock closed at 35.7 cents a share so I’m doubling some of my money and tripling some other money. My only regret with this stock is that I didn’t go “all in” when it hit 5 cents a few months ago. Just think, if you invested $1,000 in the stock when it was 5 cents, your share would be worth over $7,000 right now!
Anyway, no point in crying over spilled milk – especially when I’m still up 163% on my initial investment in the company! Ford has also been a winner for both me and one of my roommates who decided to invest in it. And Alcoa (an aluminum making company) has provided more than a 30% increase in the last week.
Now that I’ve dropped GM completely the only negative returns that I have in my portfolio are Martha Stewart Omnimedia and THQ, Inc. Omnimedia is the parent company for all of Martha Stewart’s various subsidiaries (and Emeril Lagasse, too). I think this stock is poised for major growth in the coming 12 – 18 months and buying it right now at $2.31 per share might pay big dividends in the future.
As for THQ, Inc., this is the video game company behind the wildly successful WCW/nWo and WWE video games. They also have the rights for Disney/Pixar video games, too. I think this is another company that has a good long-term earnings potential ahead of it and it’s one that I just bought heavily into (in my world, heavily is a hundred bucks or so!).
Just thought I’d share…and see if anyone has any decent stock tips out there!