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From my understanding a low float stock has more price volatility on good news. Meaning, the price & increase is higher than normal. I figure my exit strategy should be a 10% loss?

Hello all, I am a fairly new investor and looking to do some active trading. My main portfolio isn't doing great (very heavily invested in marijuana industry because I believe it will skyrocket, yet my stocks aren't skyrocketing! LoL) I want to try to do some 'penny stock' gambling and want...