Penny stocks, defined as equities that trade at under $5 per share, have a bad reputation within many investing circles. The core reason is that most companies with low-priced equities are struggling businesses with an unfavorable outlook.

However, the 2022 bear market has created a unique situation within the high-risk penny stock landscape. Scores of promising early-stage companies have seen their share prices tumble into penny stock territory this year. 

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Source Fool.com