Can I even sell these loser stocks?

[BradleyT]

My position isn't even high enough to cover the commission...





I can't help but laugh at IBZT, you can laugh with me too.

[hawk59]

yeah but you can't claim losses until you sell

[ItalianFX]

You'll probably sell them in blocks so the commissions are going to tear you a new...

Why would you even buy them in the first place? I bet someone was thinking, "Can I even sell these piece of crap stocks?" and then you come along and get sucker punched.

[BradleyT]

I bought both of them a few (3-4) years ago....speculation??

GamezNFlix was always cheaper than Netflix, they had way more games than Netflix, just launched a new website, and they had just started advertising on TV.

IBZT had an awesome virtual laser keyboard for handheld devices.

[ItalianFX]

[ QUOTE ]
I bought both of them a few (3-4) years ago....speculation??

GamezNFlix was always cheaper than Netflix, they had way more games than Netflix, just launched a new website, and they had just started advertising on TV.

IBZT had an awesome virtual laser keyboard for handheld devices.

[/ QUOTE ]

Well if they don't mean much to you, I would just hold onto them. However, there is the opportunity cost of holding them and not having the money that you would have left if you sold them...if there is anything.

Also, the fact that you bought them and they haven't moved, you just have to put it behind you and figure it for a sunk cost and deal with it. You could probably do something better with that money.

Do some analysis and see what you come up with and what you have left. I don't know how much you bought them for, what your commissions are, how they moved since you bought them, etc...

[The Worm]

I did the same thing about 3-4 years ago with a company called IBXG. They supposedely had something to do with the wireless handheld devices that hospitals were using to send info from hospital to hospital, ie prescription info etc. From what I read it was going to be the next hot thing, every doctor and nurse was going to have them. 3 years later, im down 95% and own 100K shares at .001. [censored] penny stocks. My finance prof told us 2 major things: A)Dont become a day trader and B) DOnt invest in penny stocks. Wish I had listened.

[BradleyT]

[ QUOTE ]
Do some analysis and see what you come up with and what you have left. I don't know how much you bought them for, what your commissions are, how they moved since you bought them, etc...

[/ QUOTE ]

One position is worth $6, the other is worth $1.70. They both moved over -98% since I bought them.



And these are in my ROTH IRA so I can't sell them and deduct the loss.

[Shoe]

Yes, you can sell them, although I don't know exactly how and it depends on what brokerage you use to buy/sell. Some brokerages will allow you to transfer ownership of the shares to them for free or for less than what they would normaly charge, allowing you to make a tax writeoff. The downside of this would be if the shares ever became worth anything again you would not realize those gains. Otherwise, you should be able to sell them the same way you bought them and claim the tax write off while paying full commission -- However, I have yet to have to do this, but am in the same position as you for one of my stocks (Acclaim -- the old video game company, i was hoping they could make a comeback but they could not).