OK, so noobie me used WealthSimple to gamble a few dollars to learn about how the stock market works.
So I bought 36 shares @ .28 cents apiece of some shitty little gold mining company called Argonaut.
Their value shot up to 39 cents yesterday because of news it's being eaten by a slightly bigger fish called Alamos.
Can someone ELI5 what this means?
News release, with stock stuff in it:
I get the sense that I'm about to be winning, but I'm not sure what to do.
I can only really afford penny stocks at the moment, though it looks like one or two of those might be a bit ghosty, they just don't do anything.
I do have a mutual fund (and a TFSA) through the bank that I deposit a little bit into every month, been doing so for a few years now. I figured it was time to "diversify" a little bit, and there's no savings bonds here any more.
Then you should save up until you have enough to get into a mutual fund. For Fidelity, it is only $100 per fund IIRC. I use Vanguard, and their lower limit is $3000. But once the fund is opened, you can add to them in whatever amounts you want.
Or you could buy an ETF if the upfront cost of a mutual fund is too high. As long as it's not too esoteric, you'll probably find one mimicking a mutual fund, especially if it's normie shit like the S&P.