I agree with Adam here. The odds of making money in penny stocks are pretty much nil.
If you take a large enough stake in a penny stock to earn a real return you're pushing up the price yourself. This is because the volume even if it looks to be in the millions is very thin. Think a million shares of a $.005 stock price.
But if you do have some extra cash and want to get a feel for just stocks in general. I found it kind of fun. Most of the initial investment $500 was lost. Or is still sitting in those penny stocks because it is not worth it to cash it out because of the transaction fee.
Small-cap are just as risky but at least have the opportunity to give you an actual return. Look for sub-$10 share price but actually listed on nasdaq/nyse/amex.
-OJ
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