Can you get rich from trading with penny stocks?

Technically, it is possible to get rich by trading penny stocks. But "will you?" is an entirely different story.

The problem with any small-cap stock is that it is prone to pumps and dumps. Indeed, by the time you get involved in a penny stock, you will likely be left holding the bag and suffering a loss.

This was prevalent in the early days of the coronavirus pandemic when dumb money was being thrown at personal protective equipment and biopharmaceutical stocks trading for a few pennies. They were massively inflated and then crashed after a week or two (sometimes within a couple of sessions).

To be fair, there are some great penny stocks that have strong fundamentals and possess bright futures. However, it is hard to find the best penny stocks in the pink sheets system.

For your other question. Yes, you can copy trade Over-the-Counter (OTC) stocks and use this as a trading strategy. You need to find a reliable and legitimate trader who is not pumping and dumping.

Ultimately, you are better off investing in successful companies that have incredible growth potential. The hot money is beginning to subside in today's market, so be sure to start balance sheet investing again. This is the best way to become rich from buying and sell stocks.