Fell for a "guaranteed" penny stock tip and lost $350 before lunch

I joined a Discord group last month that claimed they had inside info on a small biotech stock. The hype was real, people posting screenshots of huge gains. I put in $350 at $2.10 a share after they said a partnership announcement was coming any day. The stock dropped to $0.40 by noon and the group went quiet. Has anyone else gotten burned by these stock tip channels or found one that actually works?

3 comments

3 Comments

gracewebb13d ago

$350 at $2.10 a share for a biotech company that nobody's ever heard of - that's 166 shares in a pump and dump. I get the appeal of quick money, but here's the thing: real inside info doesn't get shared on a public Discord for a few bucks a month. If someone actually had a guaranteed partnership announcement, they'd be buying quietly, not screaming about it to strangers. The screenshots people post are usually fake or from lucky timing, not a system that works. I've seen these groups come and go in the penny stock world, and the only ones making real money are the ones running the channels. You might want to stick to stocks that actually file with the SEC and trade on real exchanges, not some OTC ticker with zero volume.

brown.gavin13d ago

Has anyone ever actually watched one of those "pump and dump" plays play out in real time? I remember back in 2017 I joined a penny stock group for the free trial, just to see what it was like. The admin kept posting these blurry screenshots of his "mansion" and a stack of cash on a table, like that proved anything. Then the stock he was pumping dropped 40% in an hour and he just blamed "shorts" and disappeared for a week. The funniest part was the guy who posted his trade confirmation, which showed he bought at the top right before the dump. He was begging for "support level" advice while losing his whole $200. The admin never replied.

emmaallen12d ago

Has anyone actually seen one of these groups make people money consistently though? I followed one for a year and a few people did bank because they got out before the admin did.