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3 Penny Stocks to Watch Now

Predictive Oncology, Pineapple Holdings, and Faraday Future Intelligent Electric are the 3 Penny Stocks to watch now, based on the TipRanks’ Penny Stock Screener tool. Penny stocks are defined as stocks that trade at or below $5 per share and have a market capitalization of below $300 million.

The Penny Stock Screener helps investors scan stocks based on numerous parameters, including Sector, Price Target Upside, Smart Score, Analyst Consensus, Dollar Volume, and Price Change.

We leveraged the tool to pick the top three penny stocks that had the highest Dollar Volume as of the close on May 29, 2024. Simply put, Dollar Volume is the number of shares traded on a particular day multiplied by the day’s share price. We can also have a look at the Relative Volume and Average Volume (last 3 months) to gauge how the trading volumes have been very high (showing high interest) compared to the average.

Predictive Oncology, Inc. (NASDAQ:POAI) – Predictive Oncology combines the power of artificial intelligence (AI) with science to improve the clinical trials and success rates in the oncology spectrum. POAI helps in drug discovery, drug development, and clinical trials, backed by one of the world’s largest biobanks of over 150,000 tumor samples. POAI had a Dollar Volume of $202.04 million on May 29, while its stock price fell by 7.4%. Shares are continuing their downward spiral, down 8.8% in Thursday’s pre-market trading at the time of writing.

On May 28, POAI shares zoomed 32.5% after the company announced positive results from its retrospective study of ovarian cancer.

Pineapple Holdings (NASDAQ:PEGY) – Pineapple Holdings operates through its wholly-owned unit Pineapple Energy. The latter engages in finding, acquiring, integrating, and growing leading local and regional solar, storage, and energy services companies. On May 29, PEGY had a Dollar Volume of $176.22 million, accompanied by a stock price increase of 1.1%. However, shares are trending down by 6.8% in Thursday’s pre-market trading. On May 28, PEGY shares skyrocketed over 91% on the company’s announcement of a new 1.95 MW solar power project in New York.

Faraday Future Intelligent Electric (NASDAQ:FFIE) – Faraday Future Intelligent Electric company manufactures next-generation smart electric connected vehicles. FFIE’s Dollar Volume was $118.53 million on May 29, with shares plunging by 62%. The stock price decline continued even today in pre-market trading, with shares down 7.2% as of the last check. 

On May 28, the company reported full-year 2023 results and withdrew its production outlook, citing market headwinds and liquidity challenges, causing the stock to plunge. FFIE shares have been on a roll since the meme stock mania hit the stock. In the past month, FFIE shares have zoomed over 1010%.

To find more penny stocks like these, you can take a look at TipRanks’ Penny Stock Screener tool. It shows a list of all penny stocks, their price movement, and other vital data.

Disclosure

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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