RJ Mitte Uses ChatGPT To Find Penny Stocks 😭

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TL;DR

RJ Mitte claims ChatGPT found him a penny stock that returned 1,200 percent; Graham Stephan warns ChatGPT invents stocks and financials, making it unreliable for investing.

Key Insights

1,200X penny stock return — RJ Mitte claimed he scored a 1,200X return on a penny stock by using ChatGPT to find dividend stocks with large-cap capital and no debt — turning a $200 investment into $800.

ChatGPT makes up stocks — ChatGPT regularly invents stocks and fabricates financial data, pulling from Reddit and unreliable sources — making it actively dangerous for investment research.

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Deep Dive

RJ's ChatGPT Stock-Picking Strategy

RJ Mitte opens by admitting he treats stock picking like gambling and loves penny stocks. He's been using ChatGPT as a research tool, feeding it specific criteria like finding dividend stocks with large-cap capital and zero debt. He claims one pick delivered a 1,200X return — buying 200 shares for around $200 and watching it climb to $800. Graham immediately pushes back with skepticism.

Graham's Reality Check on ChatGPT

Graham flatly rejects the premise, citing his own testing of ChatGPT for stock research. He's uncovered constant errors: the AI fabricates ticker symbols, invents financial metrics, and pulls data from Reddit and other sketchy sources. His hard verdict: don't use ChatGPT for investment decisions. He suggests following a random Twitter account would be more reliable than trusting an LLM trained on messy internet data.

Takeaways

✓Do not use ChatGPT for investment research or stock recommendations — it fabricates financial data and nonexistent companies.
✓If you find a high-return stock, verify it exists and review audited financials on SEC filings, not AI-generated summaries.

Key moments

0:14RJ's 1200X penny stock claim

“I've gotten some that have a 1,200 X on it. Like, we're not talking like a lot of money, but like I bought like 200 of it and now it's like 800 bucks.”

0:29Graham warns ChatGPT makes up stocks

“I have to say I uncover so many errors in ChatGPT. It'll just straight up make up stocks. It'll make up financials and it pulls from like Reddit accounts.”

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