Most companies that offer their stocks as penny stocks are new companies and you are going to find that financial information is not readily available in many cases. It's really a gamble when you invest in a new company so most seasoned investors buy while the stock is climbing in value and sell before it peaks out, all the time avidly watching the market. Many people are using real-time quotes which can, in the world of penny stocks, make a huge difference. You need the ability to buy and sell on a moments notice and also be monitoring your stocks as often as possible. It can be frustrating because penny stocks can be idle for long periods but then all of the sudden shoot up 200%.
Penny stocks can climb in value hundreds of percents and loose just the same in a very small amount of time. The unpredictability of this form of trading is amazing but the idea is that you aren't loosing or investing as much money as you would in the regular stock market. The highest a penny stock can go is 5 dollars and the lowest is a fraction of a penny.
Realistically, most penny stocks are doomed to failure. That's why you need to look into finding a good stock picker financial adviser. It can be unforgiving and sometimes impossible to get accurate information on these small companies so if you can find a way to pick your stocks with the least amount of hassle you are ahead of the game. There are several stock picking tools on the market, some better than others.