Your Questions About What Is Happening With The Stock Market Today

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Daniel asks…

Anyone know about the stock market? Specifically changes to the trading name?

So I decided to invest a few hundred dollars for fun just to see what would happen. I figured that the worst case scenario was the companies would go bankrupt and I would lose a couple hundred dollars. Well, I bought one stock at .0003 per share, so 60,000 shares cost me somewhere around $30 with all the fees included. The company I invested in originally traded under the symbol GEAC.PK. When I checked on the stock today the name had changed to HYGN.PK and the price had gone from .0003 per share to .15 per share, which is just ridiculous. It even shows that from the previous close it had gone up like 18,000% or something crazy. Anyways, my total reflected something not even close to what it should have been if it had gone up that far, and when I looked at where my money was allocated it showed I only had 6 shares and that I had purchased them for $3.00 per share. I have the order right there in my account showing plain as day when the order for 60,000 shares at .0003 was executed. What does this mean? What‘s going on? If you need to know anything else to answer the question or I am leaving something out please let me know so I can provide some follow up.
I understand that it was a frivolous investment, but like I said that was kind of the point. I don’t need lessons on where to spend my money, as this investment was $30. I don’t have any interest in learning about the stock market, I just wanted to know what happened. Thanks.

Justin answers:

The short version: You bought a piece of crap, someone flushed it.

The somewhat longer version: GEAC changed its name/ticker, changed its “business plan” and had a 10000-1 reverse split. Http://app.quotemedia.com/quotetools/newsStory.go?storyId=13081055&topic=GEAC&symbology=null&cp=off

Any company that changes from making movies to making hydrogen reactors overnight is, well, almost certainly a scam.

Either way, you clearly don’t know what you’re doing and could stand to learn about the stock market before proceeding. Don’t invest another nickle until you can explain why the company you’re buying stock in is a good investment.

For extra credit, learn why investing in penny stocks is a sure sign of a novice who’s heading for a fleecing.

Richard asks…

What is your opinion on the economy right now?

With everything that is happening today. i.e. gas prices, food prices rising, factories going overseas, jobs being lost, mortgages, the stock market today?

Do you think that we should keep the factories in the U.S to prevent this?

Should we be taking control of this now or sit back and wait for it to happen watching it?

Should the goverment get more ivolved or us ourselfs?

I just want some opinions on this. I don’t really want refrences or websites just some opinions if you can give me any you have no matter if I like it or not, that’s the point of opinions!
Thanks!

Justin answers:

My opinion is it’s gonna get worse before it gets better…Keeping our factories in the U.S. Will keep more jobs but as more and more Americans buy more and more Chinese good then more and more American factory jobs will be lost…question 2 How can we take control? #3, Anytime their is a way to get involved it is in our best interest to do so.

David asks…

whats happening with the stockmarkets?

hey, I just want to no whats going on with the stock markets today. I have heard alot about them plummeting and things going bad. So if someone could give me a quick over view of what they actually are and whats happening it would be great. thanks

Justin answers:

1. People were allowed to take out loans they could not afford.
2. Because these loans were risky, investment banks took advantage of the risk/reward concept of investing and pooled the loans into a trade-able security and sold them to other banks.
3. Shockingly, the securities became worthless
4. Investors lose confidence in companies who hold these risky investments and stock values begin to lower
5. As publicly traded banks lose equity on the stock market, account holders begin to question the stability of the banks
6. Firms need loans. Nobody trusts each other and so financing begins to slow.
7. People start pulling deposits out of the banks
8. Some banks fail
9. The debt market basically freezes
10. Government bailout
11. No one cares. Still skeptical.
12. Dow drops below 9000
13. All caught up to date now! Isn’t it exciting…

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