Penny stocks are sold, not bought, at least when they start moving.
The company was a penny stock on the edge of collapse.
"If you trade penny stocks, you're going to lose money some of the time," he said.
By this measure, more than a third of their portfolio is in penny stocks.
It was what they call a penny stock, trading at just $4.75 a share, but no one wanted my pennies.
The last few years have been a banner time for those inclined to play penny stocks, if only because there are so many of them.
Penny stocks are now traded by 325 firms with offices in 29 states.
Companies with short or erratic histories generally issue penny stock.
The plunge last week erased $1.3 billion in value from penny stocks here.
A penny stock suddenly took off as rumors were spread that it was on the verge of a huge success.