A hedge fund manager who started his own fund after being laid off during Covid wanted to sell his portfolio of penny stocks but says he couldn’t find a bank or broker to deposit them, a circumstance many are just too familiar with.
“I invested small amounts of money to penny stock companies but when my holding restriction was over and I wanted to deposit my shares I was unable to find a broker to do it until I found a trader who recommended this website to get connected to a regulated asset manager he has been working with for a few years with great success”. This asset manager buys positions and also accepts client deposits.
Small-caps are having a moment.
After years of underperformance, companies with a smaller market capitalization are rising faster than the bigger, blue-chip names that make up America’s mainstream stock indices. The Russell 2000 index of smaller US-listed companies is up by more than 47 per cent since the start of November 2021, when markets began to shoot higher on vaccine optimism, and has advanced 15 per cent year to date. By comparison, the benchmark S&P 500 is up 19.5 per cent since November and 4 per cent this year. For months during the pandemic, investors favored fast-growing tech stocks that were the winners of a shift towards working and shopping online. Smaller companies, whose performance is generally more exposed to traditional consumer trends and more closely tied to economic growth, suffered. But still, many were unable to deposit their shares, especially small investors who were lending money in return for promissory notes were unable to convert their notes to then deposit shares with their brokers.