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23
Bet With your Head, not Over it!
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Iā€™m glad to see the resilience and optimism of all of the MMNFF investors on Reddit. Iā€™m a ā€œsenior memberā€ of the group and I have lived through several boon/bust cycles of many companies over the years. I enjoy gambling, and I consider MMNFF to be a gamble, not an investment. There is a big difference between investing in penny stocks and gambling in a casino, however, since in a casino the house has the advantage and always wins, and the players lose, in the long run. And you canā€™t write casino losses off of other gains like you can if you end up losing on a penny stock. Therefore, I think itā€™s great to see people spending their Stimulus money here rather than in a casino. That being said, do not overextend yourself by spending money that you donā€™t have or need for other things like rent or food! If MMNFF gets above $1 again thatā€™s a fantastic return on your bet if you bought in now. If it does get above $1 again, and I hope that it soon does, it will likely fall back again before climbing higher. One suggestion I give to my young friends is, if you can double your money, take your original bet off the table, and let the rest ride. You are then playing with ā€œhouse moneyā€, and you can put your original money in a more secure dividend stock or fund with a long history of good returns. Remember, a lot of retail investors got into GameStop for under $50 a share and rode it up above $400, with the hope that it went to $1000, only to watch it fall below $100. Worse still were the many investors that bought at $200-$300 a share.

Most wealth is earned through incremental growth of long term investments, and you likely will not get rich overnight on any stock, penny or otherwise. I truly hope that MMNFF gets to $4 and then continues to rise from there, since I have now purchased about 50K shares. But I realize that there is a chance that the company goes bust, or makes a deal to be acquired at a small price like around 25 cents a share! Thatā€™s the gamble, but unlike the casino where you can lose your bet in an instant, this roller coaster is exciting and plays out day to day. There are a lot of ā€œpump & dumpā€ people on Reddit that will tell you to buy more and more while they are selling for a profit. Do your own due diligence, and rather than following the ā€œadviceā€ of the posters, read any SEC Filings and quarterly reports and draw your own conclusions. Just donā€™t do stupid things like borrowing money or getting cash advances on credit cards and being on penny stocks. Good Luck and I hope that we all win big on MMNFF!

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3 years ago