Penny Stocks are stocks that trades below $5 per share and most financial advisors and long-term investors tend to avoid them completely because of the extremely high risk that comes with owning them. They fluctuate wildly in price, and although some report spectacular gains in a matter of a few days, those who invest in them are generally surprised when they disappear altogether. Generally, if a stock is trading that low, it is danger of losing its listing with an exchange. When this happens, a company is normally either in very bad financial shape, or on the brink of bankruptcy. But how can one take advantage of such trades and yet see the opportunities that they can present? These kinds kinds of trades are not for the weak at wallet. You must have some kind of capital to risk and knowledge of the stock that your looking into in order to reap some benefit.
One place you can look into is called "investools". The products that they offer are basically investor education and can start at about $3,000. They offer no guarantee that you will get a return on your investment but one does come out of it with the tools necessary to make the calls when to get in and when to get out. Most people that have used Investools really didn't use the program to its fullest and claim to be disappointed that the return on their purchase for the product was a scam. I don't think that due to the fact that if the tools are used correctly and tanancity is applied, I believe you can get your money back on such a program.
Another method that doesn't cost as much upfront would be going to stockdoubling.com. These guys use their own methods just package it differently at about a third of the cost. Again, no guarantees on ROI too but definitely worth a look since it doesn't cost as much so the cost of participating is a lot more appealing compared to a 3k cost.
To conclude, investing in penny stocks is very risky definitely look into educating yourself whether through a private system or your own research.