Penny stocks are defined as stocks that are worth less than a dollar and considering the financial gain many investors dream of making easy money through penny stocks since it seems simple: find a promising underrated company, buy the stocks and sell them when their price goes grows. Though it may seem easy many do not choose their stocks carefully and end up with worthless stocks to their name. However, a 16-year-old high school-er Connor Bruggemann managed to turn his $10 into $300.000 all the while attending school.
As a child Bridgeman has always showed an interest in money and his family happily encouraged him. Unlike a typical teenager he doesn’t spend all his earning but leaves the money in a savings account to multiply. His grandfather was the one who pushed him into playing the stock market and Bruggemann’s father, a former trader, agreed to the idea. Unlike his father, Bruggemann loves to take ricks so (apart form buying well-known stocks like Apple) he focused his attention on the volatile and chaotic world of penny stocks. These types of stocks tend to rise and fall in value often without rhyme or reason so it’s understandable why many investors pass on investing their money.
One of the reasons Bruggemann was so successful in managing his investments was simply technology. He would use his iPhone to follow stock changes, look up the people who were buying and selling, the number of shares they hold, their offers and prices. This tactic helped him react quickly to any changes and limit the amount of money he would lose. But it wasn’t all pure luck and tech. Bruggemann is also very diligent when it comes to investigating the stocks and their companies. So besides being able to trade through this iPhone, using apps like Etrade and the Level2 service, his discipline was the main reason for his success.
Most of his earning were made through American Community Development Group Inc.’s penny stocks, which went from being one third of a penny at the time he invested to being 6 cents when he sold most of them and today they are $.0036. Bruggemann says that when you invest in penny stocks you should expect to lose money vs actually hitting the jackpot. But penny stocks are not everyone’s cup of tea. Many stress over their volatile nature and sell before they should but Bruggemann is a betting man and a person who thinks carefully about this investment choices, all the while following the changes and trends of the market.
Now he’s has his own website offering advice on investments and customers can even chat with him and other investors. Bruggemann’s role model is Timothy Sykes, a penny stock expert and entrepreneur who became a millionaire by trading stocks since he was in high school. Unlike many people offering advice on investments, Sykes offers his clients his skills and know-how to be successfully and his blog has a lot of valuable information and a helpful infographic on the penny stock trade.
Connor Bruggemann is an example how age and experience don’t matter much when it comes to making sound investments. What does matter is research, diligence and an investment objective that every investor must have if they want to be successful.