Penny stocks are a class of low-price, high-risk public companies. They tempt highly speculative traders with the illusion of easy exponential growth, offering the chance to double, triple or quadruple their money. Don't be fooled—penny stocks are incredibly risky, with a very high potential for fraud and loss. Let's take a look at them in more detail. In Australia, penny stocks, are also known as ‘micro-cap' stocks and refer to small companies with, you guessed it, small market capitalisations, usually below $50 million.

https://www.forbes.com/advisor/au/investing/penny-stocks/

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