The latest financial news over the past week has been pretty rough. There has been plenty of talk about how the market is doing poor and that stocks are plumeting. I decided to check in on my Evergreen Energy stock that I bought last month and did not get good news. I bought it at $1.67 per share. It had gone down slowly for the past few weeks....until today. It started the day at $.99 and has plumeted down to $.56. This is a 43% drop in one day. (When I checked it after posting this, it had already gone down to $.54...another 2 cents gone. Thus making it a 45% drop.) I am glad of a few things from seeing this result. 1) I only bought 3 shares of this stock and didn't have a big financial commitment to this stock. 2) My other investments are in mutual funds that don't have the tendancy to drop at this rate in just one day. (although they have dropped quite a bit over the past month) 3) I got a $50 bonus for buying the stock, so my initial $5 investment has grown to over $50 in just a few weeks. If you go to Sharebuilder.com now, they are running the promo again. The code to use is 50CITIZENS and you will get $50 put into your account about 4 - 6 weeks after making your purchase. You only have to buy $5 in stocks to get it. Sounds like a nice way to make a couple of bucks as well as to try to pick a nice cheap stock that could be the next starbucks or walmart company. Unfortunatly at this point, I did not choose correctly.
This post went from being a sob story to a sales pitch. Sorry for that. I just thought it was a good deal that could be shared with others.