What percent out of the universe of 1000's of penny stocks? I'd estimate it can easily be proven that less than 1 or 2 percent, certainly less than 5 or 10% at most, ever go from pennies to a $1 or more a share.
By contrast, I believe there is a lot of industry/SEC, stock research firms and similar data that would say the bankruptcy rate for any stock under $1 is very high, under .50 cents is extremely high and at true "pennies" as in 1 to 5 pennies say, is astronomically high- as in 90% or better probably, IMO.
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