I was looking at an article from money.cnn.com which talked about Tim Grittani making 1 million dollars with penny stocks. I read somewhere that Tim learned from penny stocks guru Tim Sykes. I noticed that Tim Grittani used $1500 of his life savings just to trade penny stocks. The article mentioned that penny stocks are risky because investors could lose his or her whole investment. Also, penny stocks are considered to be part of the pump-and-dump scheme. Unfortunately, I feel that the investors who are victims to those scams, loses his or her confidence in the system. I do not know if its possible to turn even $5 into millions over time with penny stocks. I don't think I would invest money into penny stocks not unless there is a positive reason that I should.