Stock failing...Skyey and Crtx what should i do.?

Question

I bought skyey at $5.00 now its 1.07 I bought CRTX at 2.50 now its .28 I lost a bit of money..what should I do? Please help.

Answer 1

You were caught in the classic "pump and dump" scheme.

I am almost sure you did not research the financials of the companies before you put down money - probably because a broker was yelling at you to hurry up and buy before it took off!

Sell the stock NOW, take the loss on your next year's tax returns, and never buy junk penny stocks ever again!

Answer 2

take the loss and get out while you still can.

Answer 3

Umm there is little more you can do than either sell (that moment for both positions came and went a long time ago) or keep holding and praying but 99% that wont work.

Honestly just take this loss as a lesson and just learn from it whats done is done. NEVER EVER play in penny stocks (less than $5). You have no edge here since you know nothing about these companies except rumors, I bet they dont even really exist as legitimate businesses. Penny stocks are just places for unscrupolous traders who have cash to manipulate small fish like you using pump and dump schemes. I actually know such people and what they do to stocks. You stand NO chance against them. Look into legitimate stocks in bigger companies.

Answer 4

First off when you bought those stock you should have immediately place a "SELL STOP" (GTC) GOOD TILL CANCELLED to get out at a pre-determined price.

Here's an example.

You buy Skyey at 5.00 and determine you DO NOT want to lose any more than 20% on that investment.

You automatically place a sell stop at 4.00 to GET OUT AT THE MARKET if the stock ever declines that much.

I know this will NOT help you today but may help you in the future if you ever buy another stock.

ALWAYS determine when you buy a stock where you will be wrong and place a sell stop at that price.

Make sure it's good till cancelled.