I can see that there are many people that trade stocks under 3 dollars and with low volume, now i undertsand that these kinde of stocks are penny stocks but still why do people trade stocks with such a little volume. 

I mean if a stock is at 2 dollar and  it's up 40% because of some positive news, but the volume is low, i am talking about 40-100k trading volume. Why do people trade this type of setups, there is a risk that you cant get out if the trade turns goes wrong.

And on the other  hand there are traders that short this types of stocks with little volume, so my two questions are

1: if you buy a penny stock with little trading volume, there is a risk that you cant get out of your position if the trade goes wrong?

2: if you shortsell a pennystock with little trading volume does the "trading volume" effect your risk, i mean it does but not in a way that you cant get out of your position, so buy to cover is not effected by small trading volume? in other words you can short sell the crap out of penny stocks with little volume, but only if there is shares to short.?

I appreaciate all kind of answers to my questions.

Thanks.