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Myth: Penny Stocks Are Those Stocks Trading Under $5

In the old days, penny stocks were considered those stocks trading under $5, plain and simple.

Nowadays there are many stocks that meet that definition that no one would think of as penny stocks. Just to mention a few (as of this writing): MoneyGram International (NYSE: MGI), Denny's (Nasdaq: DENN), Level 3 Communications (Nasdaq: LVLT) and Jones Soda (Nasdaq: JSDA).

Jones Soda Co. (Nasdaq: JSDA) 57.4% HIGHER; announced a deal with Walmart (NYSE: WMT) that authorizes Jones to retail its products in Walmart's approximately 3,800 U.S.-based stores.

The deal increases Jones’ total retail outlet distribution by nearly 10%, and will make the product easily accessible to millions of new consumers.

FSI International (Nasdaq: FSII) 36.4% HIGHER; raises its Q3 sales guidance from $23-$25 million to $27-$29 million.

The Street is currently looking for sales of $24.15 million. Toreador Resources Corp.

Move, Inc. (NASDAQ: MOVE) 24.5% LOWER; reports Q3 EPS of $0.00, versus the analyst estimate of $0.02. Revenue for the quarter was $52.90 million, which compares to the estimate of $54.69 million.

Sees Q4 sales $47 - $48 million, versus $54.6 million. Sees FY10 $184 - $192 million, versus $230.7 million Jones Soda Co.

(NASDAQ: JSDA) 19.4% HIGHER; reports a Q3 loss of $0.06, in-line with the analyst estimate of ($0.06). Revenue for the quarter was $7.2 million, which compares to the estimate of $6.80 million.