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Forex International Trading Corp. (“Forex”, OTCBB: FXIT) announced that
it is adopting a share repurchase program. The Company’s Board of
Directors designated a program to repurchase, from time to time, at
management’s discretion, up to 1,000,000 shares of the Company’s common
stock in the open market and continuing through December 31, 2011 at
prevailing market prices.
Darren Dunckel, Chief Executive Officer of Forex International Trading,
stated, “As part of our company’s long-term strategy to grow both
organically and through acquisitions, we have evaluated the recent price
levels and we believe that our common stock represents an attractive
investment opportunity for our company. It is our position that our
company is fundamentally sound and the decision to initiate the share
repurchase program illustrates the confidence we have in the long-term
value of our company. We will continue to pursue initiatives from an
operational standpoint that are key to our development as well as
investments that are in the best interest of our company and its
Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.
The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.