CONCIERGE TECHNOLOGIES INC ( CNCG )HI GUYS AND GIRLS, I AM A NEWBEE TO THE WHOLE INVESTING EXPERIENCE. I AM A 39 ( ALMOST 40 ) YEAR OLD MAN. I HAVE BEEN READING AND FOLLOWING ALL YOUR ADVICE NOW FOR A MONTH OR SO KINDA UNDER THE RADAR. AND I WOULD LIKE TO SINCERELY SAY THANK YOU TO EACH AND EVERYONE ONE OF YOU. I DO NOT THINK I COULD HAVE STUMBLED UPON A BETTER FRIENDLY , TIGHT KNIT SITE THAN THIS ONE HERE…..I AM AS GREEN AS GREEN CAN BE TO THIS WHOLE STOCK WORLD, BUT I HAVE TAKEN ALL I HAVE SAVED IN THE PAST YEAR OR SO AND DELVED RIGHT IN. I AM NOT WEALTHY BY ANY STRETCH OF THE WORD. BUT I HAVE SAVED UP 2000.00 AND WANT TO TRY MY HAND AT THIS, WITH ALL OF YOUR HELP OF COURSE. IT IS VERY LATE FOR ME RIGHT NOW AND I NEED TO HIT THE HAY FOR WORK IN THE MORNING. FOR STARTERS I HAVE BOUGHT 10,000 SHARES OF THE TITLE OF THIS MESSAGES STOCK, AND ANY HELP OR INPUT WILL BE GREATLY APPRECIATED…..THANK YOU SO MUCH FOR READING AND POSSIBLY COMMENTING ON MY VAGUE INQUIRY HERE, SINCERELY JEREMY BELLAR.
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Hi Jeremy,
Welcome aboard! I have never heard of Concierge Technologies but just quickly looked it up — this is a company with a market cap of $4 million, which means there’s no reason for it to be a publicly traded company on the stock market. Most stocks of this size that have any trading at all are just passed back and forth among speculators or, in the worst case, completely manipulated by pump-and-dump stock promoters. I suppose there are examples of penny stocks that rose from $5 million market caps to become “real” companies with growing businesses, but I’ve never seen one — by way of comparison, $4 million or so is probably roughly the value of one of the local auto dealerships in my relatively prosperous town of 30,000 people.
I can’t give personal advice and, as I said, I know nothing about this particular company other than the fact that it’s a ridiculously small penny stock, but I would be extremely cautious with these kinds of trades (or, better yet, avoid them entirely).
The temptation when you feel like you’re starting small and have to “catch up” on saving and investing is to try for “moonshot” picks that you can envision going up by thousands of percent, but that’s an extremely risky proposition. Stocks that trade for two cents might be appealing because it seems like “they can’t go much lower”, but that’s not true — like any other stock they can lose 100% of their value and 100% of your investment, but compared to companies of substantial size and profitability with visible, real and growing businesses and viable assets they have a much, much higher probability of going to zero. It is boilerplate language to say that you should only invest in stocks with “money you can afford to lose,” but with little penny stocks that’s even more true. I would not buy stock in a $5 million company unless I was intimately involved in their operations or thoroughly convinced that there is an identifiable and viable hidden asset on their balance sheet.
I’m still attempting to get my toes in the water BUT I certainly wouldn’t want to spend a lot on a Small Cap….I suppose a lot depends on what the minimum legal share bundle is and the price of the stock. If I EVER manage to find a US broker who doesn’t require a relative fortune to open an account with them (I’m not US citizen or denizen) I, too would like a little dabble in some particular Small Caps. However, I wouldn’t be spending a lot until I see how they go. And then, of course, brokerage fees have to be considered also. It’s a lot to take in and I’m just not a good loser as well as being a natural “chicken”!! Congratulations on your brave foray. I hope the shares were LITERALLY “Penny Stocks” and that all turns out well for you.
Welcome, Jeremy.
What do you want to do? Most people playing penny stocks do it for fun. It’s a lot cheaper than the casino or the track. I don’t do penny stocks, I’m mainly here for the camaraderie. Really some nice, and very sharp, people on this site. If you actually want to build a nest egg for your future, i agree with Travis, a teeny-tiny company like concierge is unlikely to have that outcome. If you can get your money back & want to try something else, there are a couple of ETFs that I think may have an edge: CSD, PKW, and ICW. Study them and see if you agree. Health care funds like IBB, BBH, & FBIOX have done extremely well in the last year, but seem to have lost their mojo lately. I don’t recommend you stay away from single stocks by any means, but my picking record isn’t very good.
Hi Jeremy,
I’m in no position to advise but I do know the feelings that urged you to jump. & ‘feelings’ are dangerous beyond belief. You need to do some study of the basics – what to look for in a company, stock, etc. before giving up your dough (what you bought someone else sold!!). Travis & his friends are truly excellent but, as he says over & over, he does not make buy recommendations.
You are lucky that you found gumshoe. Please unsubscribe from 99.9% of the penny stock newsletters that you’ve been tempted by – there ain’t a quicker path to disillusionment that I know of.
The 1 piece of advice I can offer us to protect your stake – stop losses, etc. – they ‘re not foolproof of course but by whatever means please don’t watch you 2k dwindle to 1k while hoping things will turn around. Penny stocks will finish you fast with one ill advised punt.
Wish you lots & lots of good fortune. & keep us posted.
Do you believe falcon stock is part of the penny stock group too? I like the idea of playing with penny stocks but want some good guidance for shorter buys and sells.
Hi Jeremy,
I have done a lot of penny stock investing on firms that were “idea stocks” and they almost always went bust over time….. but this stock is consistently between on e and two cents. Do you have any info on their prospects for ramping up sales? They have a lot of shares outstanding and lost over a half million last year. Are you still in the stock and do you know anything more than what is printed in their quarterly statement? (Which is at http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9993676 ). Good luck, but dont be afraid to bail on it….. very needed, if their is any liquidity (buyers) to buy your shares. Do you live in Valley Center? I know someone there, it is a nice community……
Anyone here still own stock in this company (CNCG) ? Much has improved in the last few years. Jason J.