price action doesn't really make sense to me, nor does waiting a long time for nothing to happen
I know better now on how to play these stocks at least
highly speculative, literally bottom finishing the lowest of the low
strategy: looking to see that it is holding its 52 low for a good few months before entering a position
that way you know your risk is priced in already, and then its a matter of waiting and waiting and waiting too see the stock pops. if it pops, its usually a vertical line up and very short lived. you have a small window of opportunity to take profit
The problem with this stock is that it has too many shares, it's got 1.3 Billion shares!!! That makes it very difficult to move it up.
No action with this kind of stock, just a waste of time and money.
Good luck with that!
borisrehab
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@MrLotus, 100% agree
I made that mistake in the beginning buying into the hype
funny enough I rode the elevator all the way up and sold and locked in a healthy profit
in my other account which is considerably smaller in size (a few hundred dollars) - I let greed just kick in and say, lets just hold these shares and it goes to the moon, that'd be great
I have no desire to play penny stocks anymore nowadays, esp in the Pharma sector. I'm not sure if the industry itself is corrupt/insider collusions or what not doing pump and dumps but I'll have to admit I'm not good with it
MrLotus
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@borisrehab, yeah, there is unfortunately a lot of pump and dump with those penny stocks. FSD Pharma was good at IPO, I did ride the elevator too at the start and enjoyed the ride up, then I sold it and never looked back. Since then it just went donwards, I'm happy I didn't get back into it.
No action with this kind of stock, just a waste of time and money.
Good luck with that!