Fell for a broker promising huge returns on a penny stock deal

I put in $500 with a broker who said they had inside info on a penny stock that was about to triple... turns out it was just a pump and dump scheme and I lost all of it within three weeks. The stock tanked the day after I bought and the broker stopped answering my calls. Has anyone else gotten burned by these 'can't miss' penny stock tips?

2 comments

2 Comments

grant_ross278d ago

Christo, did you also buy a timeshare from a nice guy in a booth at the mall?

christophermorgan8d ago

Sorry you got taken for a ride, that really stinks. Ive seen these penny stock "inside info" pitches before and they almost always end the same way with the broker ghosting everyone. Hope that $500 loss doesnt set you back too much, but at least now you know the warning signs for next time.