Penny stocks are unlikely to be within the purview of Graham's framework as their only discerning feature is their low price and they present no indication as to their underlying value.
IPOs (Initial public offerings) and ESOPs (Employee Share Ownership Plans) are also means of stock ownership except that the companies involved are not yet listed in a stock exchange.
This also means that unlike listed companies which must follow legal requirements for disclosure, these stocks — especially ESOPs — don't have much public data available for analysis.
Serenity is receiving multiple upgrades going into 2019.
US, UK, Europe, Canada, NZ and Australia
Earlier this year, Serenity started applying Graham's complete framework to 50,000+ stocks across the United States, United Kingdom, Germany, France, Canada, Australia and 34 other countries; including all of Europe.