"From Wolves to Winners: The IPO Journey of 2023"

Small companies like Jin Medical are increasingly choosing initial public offerings over reverse mergers, egged on by a growing group of penny-stock underwriters, brokers, and day traders. The number of penny-stock IPOs has skyrocketed since 2021, with 47 such IPOs in 2023 and a total of 120 from 2021 through 2023. Webull, a diy investor-friendly brokerage, is actively promoting penny stock IPOs, many of which are operating in Asia. However, the risks of manipulation and extreme volatility in thinly-traded microcaps are high, and retail investors' history of investing in penny stock IPOs has not been good.