A very large number of the most successful picks on the ECSC board were penny stocks; some are to this day.
While CHTL is much more speculative than the majority of picks on this board as there is no revenue, income and profit history, the focus here is nevertheless on "emerging". Most stocks here remain attractive not only for past performance but for expected/hoped for substantial growth in coming quarters and years - a number of them will fail to live up to these expectations.
Why should followers of this board get all hot and bothered about penny stock status as such?
As to Tobin Smith, let's wait and watch for a while to find out if his reputation will get damaged or not by his CHTL promotion (outside of his regular and frequent Fox appearances, I believe?). Just from the moniker "ChangeWave" his newsletter focus seems to be on transformational events and companies which might possibly be well positioned for a perceived important new trend; than implies ipso facto that not all of them will succeed. It is about informed speculation after all.