I don't understand what i'm doing wrong.

I'm assuming that since the news on the immune-oncology program was released at about 8:30am today that you weren't able to jump in before the market opened. Pre-market gains were pretty significant for a penny stock and jumped from about .560 to .71 right at open and then took a dive once it peaked at .71

Unless you have a broker who deals in pre and post market transactions, you rarely, if ever, want to jump on a stock that's climbing before open since, as you've seen, this is what tends to happen.

The best news that can happen is any positive news that affects your current portfolio since you're already riding the wave upward and at that point it's a matter of deciding when to sell, if that's what you want to do.

In this case, and I'm making a few assumptions so feel free to correct me, but you probably jumped in as it was peaking at .71 hoping that it will continue to climb. Unfortunately these dips are normal in my limited experience. Don't panic and try to hold on to it if you've invested more than you care to lose right now. It might tick back up at the end of the day or post market but you might have to hold on to it for a bit to break back to even.

I am speaking from experience as this is exactly what happened to me with $MSDI last week. I'm on RH so I couldn't buy in when it was shooting up in the morning and bought at 9:30am right at the peak.

Maybe look into short selling but that depends on your preferred platform.

/r/pennystocks Thread