The SEC actually has a pretty concrete definition of what a "Penny Stock" is: https://www.ecfr.gov/cgi-bin/text-idx?SID=f4effbf9fb932f767e3e6e2da08418f3&mc=tru

The SEC actually has a pretty concrete definition of what a "Penny Stock" is: https://www.ecfr.gov/cgi-bin/text-idx?SID=f4effbf9fb932f767e3e6e2da08418f3&mc=true&node=se17.4.240_13a51_61&rgn=div8 https://www.ecfr.gov/cgi-bin/text-idx?SID=f4effbf9fb932f767e... That being said, there's also the common usage of the term which blue apron arguably falls under.