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bucolic_frolic

(49,763 posts)
6. Florida is a red flag
Wed Jan 25, 2023, 06:42 PM
Jan 2023

More than 3 decades ago I recall reading a book on penny stocks, back when that meant Penny Stock News and monthly quotes with shares trading from .01 to maybe $2. The author's advice: don't have a broker in Florida, there are no 'blue sky' laws, no regulation or oversight. This was a criticism for the 1920s Florida real estate boom also. Leveraged to the hilt, no money down, people wound up owning a plot on a former plantation with no streets and no government!

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