I was thinking of getting a SKS and bought a $10 red synthetic stock, but that was before this whole WTC mess. The fun store now wants $500 for a crappy looking Romanian SKS! Way out of my price range.

So anyway I am stuck with this stock and since I am still unemployed with nothing to do, I want to refinish the stock. What kind of paint will work best on it and will I have to do any prep like sanding or primer coat?

Yes? No?

Wallmart has some do it yourself truck bed paint.It comes in a regular size spray can.I know it comes in black.I sprayed some inside a tool box about two yeas ago,no scratches yet.Don't know about wood though.

The stock is made from fiberglass, I think.

It all depends on what you want the finish to look like. Are you putting the stock on a field gun? Camoflague, perhaps? For this you'll need paints that can take a beating. Brownells has all kinds of stuff to do the job. But,if you're just taking the gun to the range and such, model airplane paint with good preparation and primer will do an excellent job.
Then, when you're done, post a picture. I'm always looking for good ideas to steal.