If I buy thousands of shares of a penny stock, like Enron will I become part owner?

Question

Some say this wouldn't be wise, but would I be a big decision maker if I invested thousands of dollars in a company would stock pries at $0.03 a share?

Answer 1

dont do this

Answer 2

Enron no longer exists as a company to buy, so go ahead and buy all the shares you want. I beleive you would be the owner of a mass of debt.

Answer 3

It would be worthless to be the director of a company that is either near bankrupt or a penny stock, that is if your goal is to make money. If your control is to gain control of a company, take the 'thousands' of dollars and start your own business.

Answer 4

Yes all share holders are basically owners in the company

Most of the pennystocks have millions of shares out standing, so to be major player you would have to own at least 10% of the company, which means you have to control at least 10% of the stock outstanding - you do the math

Also remember the saying - "a fool and their money are soon parted" - welcome to the pennystock world

Answer 5

Sure.  Since they aren't around, I guess you can be what ever your mind makes up.

Hey, if you want to "invest" your money into worthless c**p, then email me because I have a company who sells widgets.  I think our widgets might pop one day and you can be rich if you buy the company.  The price per share is $.0000125 but you can own ALL the shares for $500.  Just email me and you can be the leader in making widgets.

Answer 6

Doesnt matter the price of the stock.  You need at least 51% of the company to make the decisions.  Or you could just own a little bit and get the other stock holders to back you if you have a plan for the company.

Answer 7

In theory, yes.  But there are several problems with that plan.  First of all companies especially penny stock companies issue a lot of stock .  Lets take just one example.

RIIC is a pink sheet company with shares trading today at about 0.25 a share.  This is just one I happened to find that is not yet bankrupt.  Many are.  It has 150,208,000 shares outstanding.  So if you wanted to buy controlling interest you would have to buy 75,105,000 shares.  At 0.25 a share that will cost you $18, 776, 250.  But that is not the whole story.  If your were to start buying up the shares, the price will start rising.  And if some of those shares are closely help (very likely) they may not be easy to pry out of the owners hands.