Nano caps carry many additional risks. Definitely for fraud. Also large cap stocks are better able to withstand serious recessions. Newbie investors only look at good times (because that's when they first get interested in stocks). Study stocks over extremely long periods and you'll THEN see the disadvantages of pissant stocks.
BTW, I'd never own any Nanocap with substantial foreign control. Run from anything Chinese, for example. Good luck trying to find someone named Wong in China, and then suing him successfully.