Two "common denominators" among pennies: 1) they're scams; 2) they're atrocious investments.
Currently every stock I own is on the NYSE and every one is audited by a Big 4 CPA firm. That's really all you have to know.
With the major exception of Enron and its CPA Artur Andersen (a decade ago), such stocks have proven to be very honest in the post Tech Bubble era. Damn good record considering there are about 3,000 listings on the NYSE.
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