There's no evidence that high risk stocks produce higher returns. Quite the opposite. The most profitable stock in history has been Standard Oil (now Exxon, Chevron and much more). Problem is it's impossible to precisely define risk beforehand.
Even CLM is comprised of low risk stocks. Buffett, the greatest investor in history, by far, pretty much only buys blue chips, often insurance companies (although with leverage). He's worth $100 billion!
But every IHUB flipper "knows" for sure that "High Risk Equals High Reward" even if it doesn't. He knows that because "someone" said it on a stock board, not because any university study proved it.
Create a model portfolio of IHUB scammy high risk pennies and compare it to an S&P 500 index fund and see which wins out over an extended period.