The major stock exchanges like the New York Stock Exchange (NYSE), the American Stock Exchange (AMEX) and the National Association of Securities Dealers Automated Quotations (NASDAQ) usually com into when someone thinks of trading stocks. A penny stock is a low priced security for small companies with a market capitalization of under $500 million and usually traded in verly low volumes. Penny stocks are also traded on other “over the counter” exchanges like OTCBB and Pink Sheets.
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