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Can you become a millionaire by investing into penny shares?

I will have saved up £5,000 by the time I turn age 18. I intend to get some of it and start to invest it into penny shares. I want to know if you can become a millionaire by investing into penny stocks, and if this is possible starting with a few thousand, and what to look for in penny stocks before you invest into it as I know that they can be very risky? Please answer for 5 star best answer.

Public Comments

1. Yes perhaps if you are going to live VERY LONG, if you could make a million from £5000 then everyone would be doing it. I guess the will have a percentage return slightly higher than interest rates. So it will take hundreds of years im guessing
2. Yes but it will take a lot of pennies. They are a great place to start for sure. Look for great Ideas ,it is difficult to research penny companies because they are usually fairly new. So you have to "feel" for them,.Upside the risk is small
3. It is theoretically possible. However, if you have the level of financial acumen needed to do it effectively then getting a job in investments would be a more reliable route to success (and you could still juggle penny shares in your spare time in search of the big coup).
4. Yes of course you can. Some of the shares I bought for 13p each are now worth £10.00 each in just a few years. All all about risk, picking the right share and some luck. You have to be prepared to loose it all
5. Investments like Asos were 4p six years ago and peaked at 377p last September. Your £5000 would have become £470,000 but there are hundreds of shares that have crashed for every one that soars. Do lots of research.
6. Invest in blue chip Australian shares listed on the ASX 200 through an international broker. The Australian economy is in better shape than the UK and USA. There are stocks on our index at penny stock prices that are making new trends. Beats gambling on cheap UK stocks in companies that will soon go bankrupt and wipe out your investment. All you need is a UK international broker that let's you trade overseas shares. Google for one.
7. Yes, you can become a millionaire by investing in the right penny stock company. At one time or another, companies such as IBM, Microsoft, Apple, and others were all penny stocks. And anybody who invested in them for the long term probably became a millionaire. But most penny stock companies go bankrupt. Which means that people who invest in them loose all of their investment. And this means that the difficult part of becoming a millionaire like that is choosing the right company to invest in and staying invested for the long term. Because it takes many years for a penny stock company to succeed and become a large company. And the problem with choosing the right company to invest in is that the management of the company can change at any time. And what used to be a good company can all of a sudden become a company for investors to flee. Because some company managers are corrupt. And they can arrange for multimillion dollar salaries and bonuses for themselves at the expense of the company and its shareholders. This kind of thing is easily done by company executives when they increase salaries and benefits for company directors, who are supposed to represent the shareholders and supervise the executives. It's a tit for tat kind of thing between company directors and company executives.