In Addition To Sirius Stock, What Other Penny Stocks Do You Like and Why?
I've got crazy ambitions of becoming a millionaire, then buying a dividend stock and living on dividend payments for the rest of my life. Besides Sirius XM the other stock I own is Velocity Oil and Gas (VOIG), a penny stock that's trading at about 2 cents a share. I plan to put 2-3 hundred dollars a month in that stock. I don't have a COMPELLING reason to load up on this stock, but I've got huge dreams, but I don't really know what penny stocks to go after. I'm not a very sophisticated investor, but to me, penny stocks look like little more than a crapshoot. VOIG seems to be as good a penny stock as any since the price of oil will probably go back up over time, they've secured some rights to oil drilling in the Gulf Of Mexico, and VOIG stock WAS as high $3.00 a share from 7/17/08 to 7/30/08.
Yeah, VOIG is still extremely risky, but are there any significantly better penny stocks out there?