GeoVax Labs (GOVX), Roboai (AIIO), and Sunshine Biopharma (SBFM) are the three penny stocks to watch on May 19, according to TipRanks’ Penny Stock Screener tool.
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Penny stocks refer to low-priced shares, typically under $5 apiece, and are usually issued by companies whose market capitalizations hover around $300 million.
The three stocks highlighted in this article were selected for having the largest dollar volumes at the close on Monday, May 18. This means that they had the highest overall dollar value of shares traded, calculated by multiplying the number of shares exchanged by the stock’s market price.
- GeoVax Labs (GOVX): This is an American clinical-stage biotech company that develops preventative COVID-19, HIV, and other human vaccines. The Georgia-based company focuses on treatments that strengthen the body’s immune system against cancer and infectious diseases, including Ebola and Lassa fever. On May 18, GOVX shares ballooned by approximately 80% to $2.21 per share, returning a dollar trading volume of $461.67 billion. The company on Monday began raising $3 billion in a private placement to boost its working capital base.
- Roboai (AIIO): This is a Dubai-based tech company with roots in smart passenger vehicles but has since expanded to AI software for data collection and training as well as AI in robotics, blockchain, and physical or real-world assets. On May 18, AIIO hit a dollar volume of $266.85 million after its shares jumped by over 39% to $5.60 per share. This followed the recently acquired subsidiary Neurovia AI’s debut at an international security exhibition in Abu Dhabi, UAE. The unit is a data processing and visual infrastructure company.
- Sunshine Biopharma (SBFM): This is a California-based pharma and nutritional supplement company that is developing drugs to fight cancerous diseases such as leukemia and lymphoma. On May 18, SBFM closed the day with the third-largest trading volume of $223.31 million after its shares jumped by approximately 80% to 51 cents per share. However, there was no immediate news catalyst for the move.
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.