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Penny stocks are so attractive thanks to their explosive potential. These stocks trade for just dollars, or even pennies, and can post triple- or even quadruple-digit gains in a matter of days.
But they are also much riskier than normal stocks. Most penny stocks are listed on over-the-counter exchanges with no requirements for being listed.
As a result some penny stocks are merely scams relying on pump and dump schemes that could quickly drain your entire investment.