Sorry to butt in with some weak circumstantial evidence but I just totally nodded my head through this whole conversation, and I wanted to add my 2 cents.
I spoke out against what I saw on a certain Aerospace parts board and got it deleted and ended me up with post restriction but I am new to this and I even noticed it.
Its freaking stressful and frustrating to go long in Pennyland. I literally have no clue if the market makers will decide something is trash and needs to die since stocks regularly fall 25% with zero news.
Every time my instinct was to sell on the bell it was right, every time it was to hold for gold it was wrong.
I watch L2 and you see the infamous 'infinite 6's' the MM's refuse to allow a stock to rise. Then the next day 7's fall in 15 minutes then 8s last a week even on good news. Damn man, we had 10's in my long stock, rather then testing 10s it immediately changed ask to 9s. WTF?
I have spent the last month holding and selling stocks at a loss. Every email alert I followed made me my money back.
I did my DD, charted it out then tried to hold. Suddenly stocks would fall with no bad news which is completely shocking to a guy who grew up thinking you held a good stock and left it to forget it and you would profit, its the American Dream if you will.
Sorry this post is pretty TL;DR but my example of a screwed stock is that one drugs delivery service in Florida that went up a ton 1.5-2 weeks ago. I believe it was like 1 penny to 4 penny. People held that and held that, it was sad to see the forum posts so sad and angry because they thought it would have to bounce.
IIRC there wasn't really a bad news story or PR, it just randomly decided to die. People couldn't understand it.
I think Dominovas Energy is next to fall, never mind it has a NASA contract it needs to plummet.
Anyway I also think its retails fault because they have been trained by fear and loathing to bail out of stocks that make good money and wait for the next train. So don't think it only benefits MM's.
Penny stocks is a game show that early birds win, you don't need to be smart, just watch that Breaking Boards or get the tip from the pumpers faster than anyone else and you win. Intelligence doesn't matter.
It really sucks because I thought I would have an edge with a research background but it really hasn't helped me to go prospecting and then long term.
WARNING: If anything I said was stupid and wrong, it was all me being stupid not trying to S---post or say misinformation, I am just dumb. lol