Business: Denver Pennies

Come on, big boy, 10¢ a chance

Wall Street disdains them as "penny" stocks, but some nervy investors are making big profits on bargain-basement high-flyers with names like Jade Petroleum and Oiltech. A share of Jade has jumped from 30¢ to $1.75 in six months, while Oiltech soared in two years from a dime to $2.50. These inflated pennies are coming from mile-high Denver, now the haven of the national over-the-counter market. In the past 15 months, more than 100 companies there have filed to go public or launched public equity offerings totaling an estimated $200 million.

Entrepreneurs have joined the skiers descending...

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