Smallcap MNC, VIS & etc fall sharply? They don’t have value at the first place.

When Bursa queries many penny stocks sky rocketed.  A standard answer no matter sharp up or sharp sell down.  All these companies rocketed from penny to high valued stock without reason. 

In fact, it is pretty normal as it even happened in Dow Jones and Hong Kong.  End of the day, Stock exchange can be a casino if intentionally use it the wrong way.  Sometimes even money laundering.

However, where is the value that cause these companies to sky rocket at the first place?