While a new penny stock out to cash in on the bitcoin craze doesn’t give you direct exposure to the currency’s price, it does allow you to reap the rewards of growing popularity.
But buyer beware: Bitcoin Shop (TUCND) went public on Feb. 6 and shot from $0 to $4.57 per share the next day then promptly declined 53% over the past five.
As the first company with “bitcoin” in its name to be publicly traded, Bitcoin Shop is an online retailer that sells everything from appliances to gourmet goods and accepts the digital currency as payment.
While volume averaged 1.2 million since going public, the frenzy has slowed to just over 111,000. If you choose to invest in TUCND, buy very small increments and use disposable money.