Penny Stock Market will always exist. The US is a Free Market. Heck back in 2008 The financials collapse causing Regulators to Lower the Penny Stock terminology because so many Big Boards fell below $5.00. Didn’t they lower it to $3.00?
Remember Ford Motor was a buck. AIG was .30 and even Morgan Stanley if I recall touched Penny Stock status or was just above it at $6.00. Freddie and Fannie Mae as well. Still trades on the OTC QB Status.
So yes the OTC is important if the Big Boards hold themselves to a certain Status to be registered on the Big Boards.
BUT they certainly made a step in the right direction cleaning it up some.
Do you Remember when Warren Buffet had a huge Stake in Heinz (If I recall) in 2019 when they got probed by the SEC and it quit Reporting a quarter or 2 because of irregularities on their finance books. Heck they would have gone to Expert lololololol or downgraded to Limited in Today’s Rules.
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