Is there any instance when a penny stock makes sense?

Question

I've had my eye on OEGY (Open Energy Corp.) for a little while. I know that conventional wisdom is that penny stocks are almost always a losing proposition, but with renewable energy - especially solar - sure to be a huge stake in our energy future, would it be advisable to take a chance on a company like this - that makes PV panels?

Answer 1

Most likely not.  There are at least 3 strikes against this company.  Strike 1.  very small fish is a sea full of much larger very hungry fish.  Strike 2.  Very few pioneering companies ever make it beyond the pioneering stage.  Strike 3. has never published a financial statement.

Answer 2

when it becomes a dime.