Penny stocks are having a moment. In recent months, little-known companies with names such as Bit Brother and Phunware have been among the most traded stocks in America’s public markets, surpassing companies like Tesla and popular exchange traded funds. The FT’s US markets editor Jennifer Hughes explores why this is happening, and whether retail investors should think twice before diving in. Clip from Paramount Movies Plus, a note on next week’s show: Look for Behind the Money in your feed a day early, on Tuesday, March 19.  We’re doing a special 2-part episode with the Unhedged podcast. One part will be in Unhedged’s feed and the other part will be right here, in Behind the Money’s feed.  We’ll be back to our regular Wednesday schedule the following week.  - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: The tiny Chinese tea seller whose shares trade more than Tesla’s Stock markets undergo ‘risk reset’ as indices notch new records Retail investors are in no rush to join the latest stock market rally - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Jennifer Hughes (@jennhughes13) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

OpenAI is one of the fastest-growing companies ever, thanks to its artificial intelligence chatbot, ChatGPT. But costs to train and run the models that underpin that technology are steep. And chief executive Sam Altman has said he has even bigger aims. The FT’s Madhumita Murgia and George Hammond examine whether the start-up’s existing business model can achieve its long-term goals.  Plus, do you have a question about markets, finance or economics? Get in touch with Michela, and we may use it in an upcoming joint show with Unhedged.  Email Michela at michela.tindera@ft.com, or message her on X at @mtindera07. - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Can OpenAI create superintelligence before it runs out of cash? OpenAI on track to hit $2bn revenue milestone as growth rockets OpenAI’s Sam Altman in talks with Middle East backers over chip venture - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Madhumita Murgia (@madhumita29), George Hammond (@GeorgeNHammond) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.