Making Money With Penny Stocks. First, ignore the noise. The penny stock market is rife with snake oil salesmen promoting the next hot stock tip. There are innumerable online investment newsletters and blogs purporting to pick penny stocks that are about to strike gold. Investors should steer clear of amateur stock analysts. To make money with penny stocks, you would need a good company, right? So, when you are evaluating and judging a company’s share price and potential, you should always be cynical and objective. Yes, it is very enticing to be getting rich off penny stocks just after a few days or so, but that doesn’t happen like magic. Updated June 25, 2019 Many massive, well-known corporations have traded as penny stocks. Despite being worth billions, some of them are trading for less than $5 per share even now. You probably know most of these names.