Over the next year Bruggemann would turn that $10,000 into more than $300,000, principally trading penny stocks, a practice rife with risk, fraud, and wild swings of fortune.He took off school that day, but for most of the time when Bruggemann was trading, he was also a 16-year-old high school junior in Wyckoff, New Jersey.With his i Phone in hand, Bruggemann would buy and sell six figures of stock from his lunch table, the bathroom, and, occasionally, on the sly while sitting at his desk.
Twenty years ago even the best home internet wouldn’t have supported this kind of real-time trading.
A decade ago you might have done it from a home office.
Today, with the supercomputers we carry in our pockets, a kid can put his life savings on the line while sitting in Spanish class.
Bruggemann has always been interested in making money.
It was just a few weeks into the new school year when Connor Bruggemann decided to play sick.
He holed up in his bedroom, shut the door, and opened his laptop.Over the summer his father had opened an Etrade account for him, using around $10,000 Bruggemann had saved up over two years working as a busboy and waiter at a local BBQ joint.At first Bruggemann had used that cash to buy some big, well-known stocks: Apple, Verizon, and a few others. One by one he liquidated those positions and put almost everything he had into American Community Development Group Inc, ticker sign ACYD, a penny stock selling for $.003 a share.In kindergarten his parents dressed him up as a concession boy for Halloween, complete with a tray carrying popcorn and candy."He came home with money, but no candy," remembers his mother, Lynn.Later he tried his luck with a lemonade stand in front of the house.