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Penny stocks, also known as cent stocks in some countries, are common shares of small FINRA have specific rules to define and regulate the sale of penny stocks.
 Concerns for investors
Many penny stocks, particularly those that trade for fractions of a cent, are thinly traded. They can become the target of 
Penny stock companies often have low liquidity. Investors may encounter difficulty selling their positions after the buying pressure has abated, and the manipulators have fled.
Another fraudulent scheme is the sale of Regulation S are illegally sold to overseas or domestic retail investors.
In the United States, regulators have defined a penny stock as a security that must meet a number of specific standards. The criteria include price,  However, sanctions under these specific regulations lack an effective means to address pump and dump schemes perpetrated by unregistered groups and individuals.
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- Penny Stocks. "Penny_Stocks". Twitter. http://Twitter.com/Pennydealer/.
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- Gary Weiss (1997-12-15). "Investors Beware". Business Week. http://www.businessweek.com/1997/50/b3557003.htm. Retrieved 2006-06-15.