No risk no reward. I wanted to play with something with some strong earning potential, all financial advisers warn against penny stocks because they are so volatile. I wanted to be invested in something that had huge potential.
WARNING: PENNY STOCKS ARE EXTREMELY RISKY, NEVER INVEST MORE THAN YOU CAN AFFORD TO LOSE.
Sugarmade (SGMD) manufactures paper from sugar cane that cost about $30 a ream, Staples sell a case (10 reams) of regular paper for $25. This didn’t seem sustainable but they had other things in the works which is why I was attracted to them. They are working on cannabis storage and sriracha sauce sticks. I thought both these items have potential even if their paper doesn’t.
Using the brokerage account I bought 5,800 shares for $0.055 each, for a total of $325.95
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