A great website for finding the best penny stock picks is by using the free stock screener on OTCMarkets.com
You can go to the OTCBB screener by clicking here.
Probably the most confusing aspect of this stock screener when you are first learning how to trade penny stocks is the “tier” setting:
The OTCBB market has different tiers: OTCBB, the pink sheets, and the grey sheets.
The OTC Bulletin Board or OTCBB is a quotation medium for many over-the-counter (OTC) equity securities that are not listed on the NASDAQ or a national stock exchange. Exchanges (such as NASDAQ and the NYSE) have specific listing requirements and maintenance standards, which are stringently monitored and enforced by the SEC. Companies listed on a major exchange have reporting obligations and regulatory requirements they must meet. OTC quotation services (OTCBB, OTC Markets) facilitate quotation of unlisted securities thus there is no such requirement.
The pink sheets do not need to meet any minimum requirements or file with the SEC. The Pink Sheets is a quotation service and not an exchange. Pink sheets are very risky investments.
They grey sheets are the riskiest. Stocks generally end up on the grey sheets after an SEC suspension. It is the grey market. Market Makers are warned, pursuant to 15c 211 not to publish a quote for the security without reviewing its information statement/clarified information statement.
I recommend that you only target OTCBB stocks and if you’re REALLY ready to gamble, pink sheets. Stay away from the grey sheets until you advance to penny stock expert level.