New Delhi, March 24 -- The covid-led stock market crash in March 2020 birthed a spectacular four-year bull run. Five years on, the boom phase and the subsequent, ongoing correction have brought significant lessons for investors-especially new entrants. While most have moderated return expectations by now, some have exited the market altogether, and others are holding tight in the face of recent corrections.

But even in this grim backdrop, headlines are often peppered with penny stock multi-bagger success stories, indicating an unsatiable appetite for these stocks.

The allure of humungous returns on minimal investment has driven many investors towards penny stocks-microcap companies with dirt-cheap share prices. Since these stocks are pr...