Ernexa Therapeutics (ERNA), Powell Max Limited (PMAX), and Ambitions Enterprise Management Co. (AHMA) are the three penny stocks to watch on May 7, 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 Wednesday, May 6. 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.
- Ernexa Therapeutics (ERNA): This is a Massachusetts-based biotech company that develops engineered stem cell therapies to treat solid tumors and diseases in which the body’s immune system attacks itself. On May 6, ERNA shares ballooned by over 51% to $6.04 per share, returning a dollar trading volume of $387.36 million. This comes against the backdrop of the company’s announced 1-for-20 reverse stock split to boost its share price and meet Nasdaq requirements.
- Powell Max Limited (PMAX): This is a Hong Kong-based holding company that specializes in financial communications and printing services. However, the company is chasing other opportunities in the U.S. clean energy sector and recently announced plans to acquire solar installation firm The Boston Solar Company in a $9 million deal. On May 6, PMAX shares skyrocketed by about 95% to $4.14 per share, generating a dollar trading volume of $216.41 million. There appears to be no news catalyst for the price surge, with the rally likely due to traders’ bets.
- Ambitions Enterprise Management Co. (AHMA): This is a UAE-based travel company focused on providing tour, travel, and event planning and management services. On May 6, AHMA hit a dollar volume of $137.05 million after its shares jumped by over 45% to $1.60 per share. There appears to be no recent 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.