I dunno. I look at all pennies as pure scams- meaning the chances of any of them ever being successful is, may be 0.000000001%. And most of the CEO/founders are here to simply sell shares and take our money. Share selling is a permanent feature of all penny's. Supply and demand trumps all-anything else is irrelevant.
Most (read all) ppl playing penny's are here to make a penny or two fast, quickly. There are no long term investors except bag-holders (me, me, me :-) ). 3 days is long term investment.
So the only way to make money here is get-in and get-out at the right time. If u can't time it perfectly, then your chance of loosing it is 100%.
Just my observation.
I have been investing since 1996 and still holds the first 6 stocks I bought like Merck, McDonald etc.
I look for undervalued growth stocks and after serious DD, pick some. After observation, I get rid of the losers and keep the winners and I keep them forever. Have more than 200 stocks in my portfolio. Have GOOG that I bought at $87 and Apple and many more.
Come to play penny's when I am bored but I almost lose it all the time except few exception.
I don't lose because I am bad at picking or timing- I am actually good at that. I have a long term investment mindset- so I have difficulty selling after much gain-I forget that it is a penny.
Almost all penny I buy go up after I have bought- meaning I catch them at the right time. Then they go up but I don't sell :-(. That's the problem. So when I invest in penny's I assume it will be total loss. But I still do it from time to time-it's ok.
Good Luck
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