Penny stocks will survive. They survived the designation of Iris Corp Bhd, and they will survive the recent designation of Harvest Court Industries Bhd.
It is easy to paint penny stocks in one brush, that they are useless and mere vehicles for a quick punt.
Just like it's easy to push the buck to the regulator for letting stocks surge, with the occasional unusual market query.
In all fairness, the regulator had issued an alert to investors on trading in Iris five years ago, and on Harvest Court as early as last week.
Did the market players understand that an investor alert is the most serious warning before a stock is designated?
The market regulator should not be used as a punching bag for market participants' lack of foresight in scrutinising the Bursa Malaysia website.
Likewise, a handful of black sheep should not be allowed to poop the party, which never begun for the rest.
The likes of Fitters Diversified Bhd, Cuscapi Bhd and Asia Media Bhd, which are making good profits relative to their size, never really appreciated during the penny stock rally, or, should we say, the penny stock mutiny.
Should companies such as SYF Resources Bhd, which this week announced a plan to venture into the property sector and change its core business, be dismissed merely because it ran up at the wrong time?
Others, however, seem to have managed to dodge the limelight.
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8 months ago
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