Scottrade and Sub-penny Stocks

[347Mike]

I tried placing an order for a sub penny stock ie .0001, but it threw me an error and wanted me to call to make this purchase. Does anyone know first hand if they will let you purchase these stocks? I tried reading didnt find anything. I don't want to call because Scottrade already charged 1-2% on top of their transaction fee and if I call it will be another $35 dollars. If the stock doesn't move after a day or two I don't want to be out $150 bucks just on trading fees...

Before anyone starts with the price of the stock, I am taking a SMALL gamble with a small amount of money. The stock has been consistently hitting its support and resistent lines. GRBT is the symbol for anyone curious.

[Broncojohnny]

When prices are that low, make sure you can actually trade it. It might say you can get .0003 for it on the website and triple your money but that doesn't mean you can.

[347Mike]

When prices are that low, make sure you can actually trade it. It might say you can get .0003 for it on the website and triple your money but that doesn't mean you can.

I am not understanding? I get the first part as I have traded a few stocks this low in the past and my order never went through but I don't get the last comment.

[Denny]

I also think the transition is more than the usual $7 on stocks bought below $1 on Scottrade. I'm not sure, but there are some extra fees and restrictions, If I'm not mistaken.

[347Mike]

I also think the transition is more than the usual $7 on stocks bought below $1 on Scottrade. I'm not sure, but there are some extra fees and restrictions, If I'm not mistaken.

Just the 1-2% off principle amount as mentioned in original post. So it would be $7+ 1-2% on whatever you invest.

I am curious as to what Al is saying though in regards to the stop going up to .0003 but you wouldn't really get that much.

[Denny]

Just the 1-2% off principle amount as mentioned in original post. So it would be $7+ 1-2% on whatever you invest.

I am curious as to what Al is saying though in regards to the stop going up to .0003 but you wouldn't really get that much.

Bro, you got me. I've never traded stock that low.

[Forever_frost]

Same thing happens on Sharebuilder.

[Fordblue625]

I am not understanding? I get the first part as I have traded a few stocks this low in the past and my order never went through but I don't get the last comment.

What Al is trying to tell you is that even though you may see a bid of .0003 online, there may not be sufficient liquidity to fill at that price.

[03mustangdude]

zecco ftw i'll throw in 500 just to c what happens if i can pick any up at .0001

[Broncojohnny]

What Al is trying to tell you is that even though you may see a bid of .0003 online, there may not be sufficient liquidity to fill at that price.

Or there may not actually be a buyer at that price.

[347Mike]

I get it now. The stock makes three jumps up in 25-50% intervals so I am thinking if I can get a buyer at the first 25% I will still be happy.

Thanks guys.

[03mustangdude]

it has 2 billion authorized shares and just look at that chart ouch.

[Denny]

it has 2 billion authorized shares and just look at that chart ouch.

@ .0001, that's $200,000

CORNER THE MARKET!!!

[347Mike]

I don't see ouch, I see potential profit. lol It consistently bounces from .0001 to .0004. It is at .0002 as of this morning...

[03mustangdude]

I don't see ouch, I see potential profit. lol It consistently bounces from .0001 to .0004. It is at .0002 as of this morning...

biggest risk on these is if the company decides it has too many shares at too low a price then its rm time.