[WoahNoun]

This is a case of needing more explicit rules to enforce the intent of the ambiguous existing ones.

>any other worthless securities that are susceptible to scams or pump & dump schemes.

As for GME, Penny stock designation technically requires that the stock not trade on a major exchange. GME was never de-listed.

[tekknik]

Penny stock designation has nothing to do with exchange listings, that’s OTC. Penny stock designation starts when the stock price is $5 or below.