Penny Stocks are anything below a certain value including $4 range. Sorry but once again a generalization that a penny stock costs a penny or less.
Investopedia even states the following:
Investopedia explains Penny Stock
The term itself is a misnomer because there is no generally accepted definition of a penny stock. Some consider it to be any stock that trades for pennies or those that trade for under $5, while others consider any stock trading off of the major market exchanges as a penny stock. However, confusion can occur as there are some very large companies, based on market capitalization, that trade below $5 per share, while there are many very small companies that trade for $5 or more.
The typical penny stock is a very small company with highly illiquid and speculative shares. The company will also generally be subject to limited listing requirements along with fewer filing and regulatory standards.
No need to get upset, I agree with the premise that 99.5% are scams and nearly all of them have no real intention of uplisting. But to state none ever do or have is false, it does happen.
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