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By Nitin Shahi
Purchasing a stock at less than Rs 10 and watching it grow ten times or more is no less than a dream come true situation for any investor. That’s the fundamental appeal of penny stocks.
As the name implies, penny stocks are shares of companies that trade at prices less than Rs 10. Such stocks are highly volatile in nature, and usually carry a lot of risks, mostly due to inadequate liquidity, lack of proper information about the business and smaller numbers of shareholders.
Penny stocks are fickle in nature, have smaller market capitalisations and are prone to manipulation. So if there is a price rise in such stocks, it may so happen that an investor will not be able to sell his shares until the price drops again.