I was a bit nervous heading into this interview as I’ve known of and respected this person for as long as I can remember. If you’re not aware, my first introduction to the stock market was via the penny stock market over 10 years ago, and I remember this person from way back then. The name Janice Shell is synonymous with penny stocks assuming you have been around them for awhile. If you are involved in penny stocks but have not heard the name, it’s only a matter of time before you see someone blame her for something or use her name as a warning. She has been involved in the penny stock market for over 20 years and has seen it all. This has given her the unique advantage of being able to tell awesome stories and offer up great insights into some of the common “beliefs” that are floated around penny stocks. Even if you don’t trade penny stocks, you’ll get a great entertainment out of Part 1 as she tells a story about a penny stock company that is hard to believe… but it’s true.
Notes:
Janice has been interested in the market since she was a child. Typical to many others, in her high school economics course, the class picked a stock and evaluated it over a 3 month period.
In 1996, Janice started to investigate stocks she was interested in. She ran into a message board and while she intended not to post, she only made it 24 hours before posting her first response. She befriended some people on this message board and they started looking into various names and what they really do.
Janice has many horror stories of pump and dumps and the resulting actions of not only the stocks but the legal ramifications that would follow. Many of these tales involve getting investor interest before diluting the stock to unbelievable levels.
She has watched many of these shady companies CEO’s and other high ranking officers end up in jail, some of which are still in jail to this day. The amazing thing is that even after clear evidence of a scam, there are still some people who fully believe that this ‘penny stock gamble’ that they originally bought into will come to fruition.
Quotes:
I chose the most inexpensive listed stocks. I would buy and sell support and resistance. I realized in real life this wouldn’t work.
The SEC finally revoked their registration years later. It took them that long. That was a penny stock with a product.
He decided to sponsor a NASCAR event and encouraged people to buy stock in his company. The product was the funny car.
There were still loyal stockholders. The SEC showed logs that had appalled even the most loyal of holders.
It’s one thing to believe a scam will come true. It’s another thing to have your penny stock gamble to lead to hallucinations.
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