What's a "Penny Stock"?

S

Scarface

My thread on the stock forum was deleted and I got a message in my inbox from Magna<sp?> saying Penny Stocks aren't allowed here and if I want to discuss them I need to take it elsewhere. IIP is on the Amex and I always thought Penny Stocks were BB or Pink Sheets. So...

What's the exact definition of a Penny Stock by Elite Trader? IIP is trading at 1.55 so I'm guessing it's any stock under $10? :confused:

Not trying to stir the pot, just a little confused and I dont see where the rules are posted. :cool:
 
pennies/otc shite are usually promoted on boards by shillers who recieved a couple of thousands of shares in a respective stock as incentive to spin'n'spam it as much as possible; u can imagine then why u can't post that crap here, especially if u have just registered....but ya, i guess u knew that already.
 
Oh yea, no doubt. Penny Stocks are total pump n' dumps. I can understand why they dont want them here. I just never figured a stock on the Amex trading for $1.55 pps with a 50-day avg. volume of 7 mil would be considered a penny stock so I'd like to know where the line is drawn.
 
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