My dad was big into penny stocks in the early 80's. I remember picking them as a kid,he'd buy us ten or twenty bucks worth of one that had a name we liked.
Well last week he gets this letter in the mail saying that this stock he had owned since the early eighties had been bought out and he had to cash in his stock or convert to the new stock (something along those lines) He really didn't know he had this stock, he said he vaguely remembered it and assumed it had gone down the tubes and he lost his money.He started going through his papers and found he had 2500 shares. Then he found he had ANOTHER 2500 shares. so he goes online to see what the companies stock is worth,It turns its a gold mining company and is worth about $40 a share! thats $200k according to our math. I'm so happy for him. He's 67 now and worked hard his whole life. He's thinking about getting that boat he's been talking about for 30 years. I hope he retires and enjoys life a little more!:hurray:

That's great news! I hope he gets that boat he's always wanted. :thumbsup:

:thumbsup::thumbsup: Good for him. :thumbsup::thumbsup: Tell him to take it easy now and just enjoy his retirment.
:beers:

That is great. I love hearing things like this. Gives me hope that I can afford to retire someday.

What is the company name? Great story and hope he lives well!

Now that is a really cool story! Congrats to him.

Pretty cool stuff there. I have had the same job but with 3 different companys since 1983 and buy stock with every paycheck. When a new company bought us i just trans fered my stocks. I work for Raytheon now and have almost 800 shares. I only cashed some in one time when I got laid off in 1993 and I did not work for year.

I know nothing about the stock market but I have known some people that have made some good money off the penny stocks. I hope he buys that boat and has the time of his life on it!! Heck tell him to buy two if he can't decide on the color he wants!!

I work for Raytheon now and have almost 800 shares.


So, another fellow RATCO employee!

Are you in AZ, MS, MA, TX, or CA?



BTW, congrats on the nice windfall! I have seen a lot of bizarre things in the market and it's nice to hear about people that make a great return.

So, another fellow RATCO employee!

Are you in AZ, MS, MA, TX, or CA?



BTW, congrats on the nice windfall! I have seen a lot of bizarre things in the market and it's nice to hear about people that make a great return.

AR. via San Diego.....remeber when it was about 19 bucks a share!!

Hooray!:thumbsup:

:hurray:Boobs and beer!!!!!!!!!!!! He deserves it I'm sure!(now how much is yours worth?):D

Makes me want to look into penny stocks a little deeper. :yes:

What is the company name? Great story and hope he lives well!
The symbol is GG. Its at $30 yesterday. Guess he got out at the right time.:yes:

A penny was worth alot more in the 80's.. lol

Good for your dad !!!!

My dad on the other hand put his money into the Grocery store "Kroger" and all of them little by little have been closing since the 80's. I cant remember when was the last time I saw one. And whats funny is my dad was asking me to look up Krogers stock so he can buy more.... sorry pops just give me the money and I'll go buy you some lottery scratch tickets instead.

The symbol is GG. Its at $30 yesterday. Guess he got out at the right time.:yes:

I am guessing he did. Gold has been strong for a while now, but it is a commodity.

http://www.goldcorp.com/

Kroger is still a fairly large force in the midwest/ohio valley area.

Awesome story!! Hopefully he has sold a good portion of it as commodity prices have had a tremendous run.

Hopefully it works out in your Dads favor. Urge him to get that boat he wants. I hope he buys the boat and enjoys it. Congrats to Dad.

AR. via San Diego.....remeber when it was about 19 bucks a share!!

Yep!

I remeber when it hit $16+. I hired in Jan. 2000.

Swanson is a good friend indeed! (Even if he MAY have plagiarized a little bit)

BTW, I guess BURNHAM was a really appropriate named for the former CEO!

Yep!

I remeber when it hit $16+. I hired in Jan. 2000.


I threw down an entire bonus check when it was that cheap to buy some!! I was wondering if I was an idiot but had think it would come back.

Good for your Dad!!!!!

WARNING - Penny stocks, or pinkies as many call them, are the wild west of investing. Many more fail than make it. There is a lot of fraud in this type of investment. If anyone here decides to pursue this type of investment...only use your beer money. Do not invest your retirement and especially don't take out a loan to invest in these stocks.

Just a warning from a penny stock investor...

GREAT Story!

The older I get, the younger 67 seems. I hope he lives it up!

Just to update,My dad did buy the boat. This is what he got -




http://www.iboats.com/sites/SouthBay/site_page_9839/images/l_900-25.jpg

(thats a brochure photo,not his actual boat) but its a South Bay Pontoon 900 series, 240 H.P.:cool:

Congrats for your Dad.