The only time I have ever lost money on stocks has been on penny stocks. My first purchase as a 17 yr old dreamer was several thousand shares of a stock for .01 cent a share that was "posed" to hit $5-6 in a few weeks. Well it did hit $5-6 a couple months down the road and I tried like crazy to sell. But the stock was shut down before my stock sold and by the time it opened back up where I could sell it was worth about .0001 cent a share. Not really sure what happened because this was before the internet but I suspect this was a pump and dump that got caught and thrown off the exchange. There was some mention of fraud but the investigation was ongoing and I never checked back. The company is worthless today because the tech is never going to be used again.