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Robinhood Penny Stock in Focus: iCoreConnect Inc. (ICCT)

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Written by Timothy Sykes Fact-checked by Bryce Tuohey
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iCoreConnect Inc. (NASDAQ: ICCT) has had one of the ugliest charts on the entire Nasdaq for the past year—down a staggering 93% from its highs. Most people had written it off. But if you’ve been in the penny stock game as long as I have, you know one thing: the uglier the chart, the better the potential bounce when the squeeze hits.

That’s exactly what happened.

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After bottoming out at $0.32 in late March, ICCT exploded 283%* intraday on March 31—on massive volume. It wasn’t because of amazing fundamentals or a sudden turnaround in the company’s fate. It was a pure, unapologetic short squeeze.

And that’s where savvy traders profit.

* Past performance isn’t indicative of future results.

When Shorts Get Cocky, We Eat

I’ve seen this play out dozens—maybe hundreds—of times in my 20+ years of trading penny stocks. Stocks get delisted threats, bad press, ugly balance sheets… but they don’t go to zero right away. Why? Because too many short sellers pile in thinking it’s an easy layup.

Then, boom. One big buy triggers the domino effect. Chat rooms pile on, volume surges, and short sellers start panicking. They have to buy to cover. That’s the fuel behind the biggest spikes.

ICCT ran from $0.32 to more than $7, giving traders multiple opportunities for 20%, 50%, even 100% wins if they understood the game.

I didn’t chase. I took a 12% gain on relatively small size (starting stake $3,762) and I’m proud of that.

Singles, not home runs. It adds up.

The Story Isn’t Over

ICCT isn’t some diamond in the rough. It’s still a mess fundamentally. But even a junk stock can produce beautiful trades.

Here’s the kicker: the company reported 42.7% revenue growth last year and over 200% growth over the past three years. That’s rare for a sub-dollar Nasdaq ticker. So while the chart was trash for a while, there’s enough there for traders to latch onto when the squeeze begins.

This isn’t about long-term investing. It’s about momentum, patterns, and price action. The float is small. The volume was massive. The technicals lined up. That’s a recipe for a multi-day run—if it can hold above key levels.

More Breaking News

Get the latest ICCT news here!

Final Thoughts: Don’t Believe the Hype, Trade It

Let’s be clear: ICCT is not an investment. This isn’t a retirement account stock. This is a short-term trading opportunity. If you ride the momentum but forget to sell into strength, you’ll get smoked.

Sell into strength. Lock in gains. Move on.

You need to adapt to the market, the market will not adapt to you.

We’re in a hot short squeeze market. The big name stocks are getting crushed, but penny stocks like ICCT, MLGO, and AREB are giving traders insane returns—if you know what to look for.

So study the patterns, respect the price action, and never, ever get greedy.

Want In On These Trades?

If you’re ready to stop gambling and start trading with a real strategy, join my Challenge. I go live with weekly webinars, real-time commentary, and a massive archive of lessons based on trades just like ICCT. Click here to apply.

Let the doubters doubt. We’re too busy banking.

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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”