I saw many different definitions of what a penny stock is. For example the SEC defines a penny stock as a security that trades below $5-per-share and is not listed on a national exchange, Others say all stocks under $1 are penny stocks. What is the 'official' definition of penny stock here at ET? And are discussions about penny stocks allowed here? Or about particular penny stocks like LIFE (just an example; it's a NASDAQ-listed security, but it's currently below $1.00). I think at some times even C (Citigroup) and BAC (Bank of America) have been below $1. I think listed securities should not be classified as penny stock, rather (unlisted) OTC securities (pink sheets etc) should be classified as such.
So, that means the stock must be a listed security (NASDAQ, NYSE, AMEX, IEX etc) and if it's below $5 then it must have at least 1,000,000 shares of average daily volume. Ok, got it, thx. So, then LIFE is counted as a penny stock b/c it's below $5 (actually $0.64) and its AvgDailyVolume is only 475,767. But EARS is a similar stock below $5 (actually $0.61), but since its AvgDailyVolume is 6,115,500 it therefore is not a penny stock.