Yes Penny stock is similar shitcoin on crypto, in my country Penny stocks called "saham gorengan". The price history of this kind of stocks just like pump and dump coin, it can even have more high risk, because after the dumped can be no one buys the stock, or the bid of order book is empty. The marketcap of this stocks is ver low because alittle bit trader have interest to trade it. I've traded stocks and have that bad experienced.