Axe Compute Inc. (AGPU), Akanda Corp. (AKAN), and Elong Power Holding (ELPW) are the three penny stocks to watch on April 23, according to TipRanks’ Penny Stock Screener tool.
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Penny stocks are low-priced shares, typically trading below $5 each and usually issued by companies with market capitalizations of around $300 million or less.
We picked these stocks because they recorded the largest dollar trading volumes at the close on Wednesday, April 22. This means that they had the highest total value of shares that changed hands, computed by multiplying the number of shares traded by the stock’s price.
- Axe Compute Inc. (AGPU): Axe Compute Inc. is a Pennsylvania-based company that rebranded from Predictive Oncology in December 2025, shifting its focus to the provision of high-performance computing capacity for AI workloads. While the company now primarily operates as a neocloud AI infrastructure company, it still retains its legacy AI-driven drug discovery business. On Wednesday, April 22, Axe Compute shares closed 79.30% higher, with a dollar trading volume of $734.62 million. This came after the company signed a $260 million deal to provide a customer with access to Nvidia’s (NVDA) B300 GPUs for AI training and deployment.
- Akanda Corp. (AKAN): Akanda is a British company engaged in the cultivation, production, and distribution of cannabis products. On April 22, the company’s shares soared by 214.15%, reaching a dollar volume of $468.86 million. This comes as the company is also making a strategic pivot from cannabis and hemp towards telecommunications.
- Elong Power Holding (ELPW): Elong is a Chinese company that develops and sells high-power lithium-ion batteries deployed in electric vehicles, construction machinery, and energy storage systems. On April 22, ELPW hit a dollar volume of $222.77 million after its shares jumped by roughly 65%. There appears to be no news trigger for the rally.
More about TipRanks’ Penny Stock Screener
Analysts looking to stay up-to-date with penny stocks can rely on TipRanks’ Penny Stock Screener tool, which makes it possible for investors to check out the thousands of penny stocks traded daily in the U.S. using filters such as sector, price target upside, Smart Score, analyst consensus, dollar volume, and price change.