Every single trading session, millions of dollars are traded on penny stocks, but rarely is there opportunities to make a $1,000,000 by doing it. However, every call-it leap year, a chance of a lifetime comes where a trader put in for a trade with a decent enough amount of money that allows for such a life changing event to occur. Because one reader / subscriber that we know of did such a thing on AMR Corporation (AAMRQ), we thought the story proved the point to such a degree that we decided to share it for a Halloween treat.
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AAMRQ Stock Quote
Market Cap: 2.45B
Last: 7.30 ▲ +0.30 (+4.29%)
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At the start of 2012, this penny stock website was one of the only ones calling for American Airlines stock, AMR Corp. (AAMRQ) to be aggressively acquired as all of the shareholders would be bailing out due to their NYSE delisting / bankruptcy filing. As if it needed to be repeated, we continued to post follow-ups about AAMRQ stock throughout the year which lead to some savvy traders getting the message and actually taking some action.
One of our followers, who I got to know as Steve (never asked for a confirmation of his real name and saw no reason for it), contacted me through skype right around the time the now blacklisted Awesome Penny Stocks was pumping North Springs Resources (NSRS) at the end of 2011. Having just thrown a couple grand into NSRS stock, he found or article titled “Best Penny Stock To Start 2012: AMR Corp. (NYSE: AMR)” and began to ask, almost daily for about a month, if there was a chance to see AAMRQ double from the low 0.30’s in the future.
With “Yes” being the immediate response, months dragged on and Steve, ever so persistent, kept on asking and kept on accumulating positions in AAMRQ. He claimed to have made about $10,000 on NSRS stock and another $12,000 on Awesome Penny Stock’s subsequent play, Sunpeaks Ventures (SNPK), all of which was thrown into buying more shares of AAMRQ stock until he had picked up a little more than 190,000 shares at an average price of 0.34.
During the summer months of 2012, Steve and I got to know each other a little bit better on a more personal note. I learned that the father of 2 had recently gotten divorced due to his wife’s disbelief of him amounting to the man she envisioned when they met and his business, a swimming pool cleaning service, was taking a beating, barely staying afloat during the tough recession that affected the entire country.
As the proverbial “pop” finally came to AAMRQ nearly a year after our article, the sentiment of selling above 0.75 had changed a bit since things were looking like 2013 was going to be a bullish year. Holding on tight and having some sleepless nights with so much money on the table, Steve eventually made a decision of a price which he was willing to settle for: $5.
Having been buying up shares of AAMRQ for the fist 6 months of 2012 at around 0.34, approximately $64,000 worth, $5 finally came around in May of this year and, wouldn’t you know it, Steve decided to hold on. “This is running Tim” he said to me, “If I can just see $7 or better, I can actually make $1,000,000 after taxes. Bro’, tell me that wouldn’t the story of all stories to hang your hat on?”
Patient and against all things which make sense, Steve actually did hold on and in late May, he sold ¾ of his position in AAMRQ stock at an average of $6.97. A massive $991,800 on an investment of approximately $48,500, $943,300 in pre-tax profits, Steve told me he was going on a much needed vacation for a week and had his sell order for the remaining shares at $8 which, after taxes, would ave sent him clear over the $1,000,000 profit mark.
Well, the vacation was a week’s worth of rain in Mexico and when Steve returned, he saw that his sell order never went through since AAMRQ never even came close to $8. Even worse, when the U.S. Government intervened in the U.S. Airways / American Airlines merger and dobts arose as to whether or not it would ever happen, AAMRQ slid to as low as $2.06 in August. Shockingly, I came to find out that Steve still hadn’t been shaken.
So, long story short, I get a skype message yesterday saying:
“Tim, I was sure the $8 mark was going to hit on AAMRQ when I went on my holiday to Cancun and I totally forgot that I had put in an order to sell the remaining 47,500 shares at $7.50 when it didn’t.
Dude, I got a email confirmation yesterday that my trade to sell my remaining shares went through and totally forgot I had even placed the order.
I ****ing made a ****ing million ****ing dollars because of you!”
I hope Steve can find a better place to relax this time than Cancun.
About AAMRQ Stock
AMR Corporation operates in the airline industry through its subsidiary, American Airlines, Inc., providing scheduled jet service to approximately 160 destinations throughout North America, the Caribbean, Latin America, Europe, and Asia as well as operating as a scheduled air freight carrier, which provides a range of freight and mail services to shippers.
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So there you have it, you can make a million dollars trading penny stocks, but, even with the stars all aligned, it isn’t something that will happen overnight. Steve’s story is unique since rarely does a powerhouse of a company like American Airlines come onto the OTC and give you a chance to accumulate shares at pennies on the dollar. Fannie Mae’s FNMA and Freddie Mac’s FMCC are 2 other ones which surely have similar stories hiding in the shadows of anonymity since they too could have been gobbled up last year in the high 20’s, low 30’s. As it is, 10- and 20-baggers are always going to present themselves to traders, but even though it will likely be sometime before a big money one like AAMRQ comes around again, rest assured well be hunting for it.
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