Adial Pharmaceuticals, SunPower, and MicroCloud Hologram are the 3 Penny Stocks to watch on July 25, based on 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 July 24, 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 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.
Adial Pharmaceuticals (ADIL) – Adial Pharmaceuticals is a clinical-stage biopharmaceutical company that focuses on developing a treatment for and prevention of addictions. Its lead drug candidate, AD04, a genetically targeted, serotonin-3 receptor antagonist, therapeutic agent is undergoing trial for the treatment of Alcohol Use Disorder (AUD).
On July 24, ADIL had a Dollar Volume of $209.65 million, while its stock price plunged by 9.2% and continued the decline in after-hours trading. Yesterday’s share price decline reflects a correction following Tuesday’s price surge. On July 23, Adial announced that AD04 had progressed to the second cohort in the Pharmacokinetics Study, after the successful completion of the first cohort. Shares skyrocketed over 183% in mid-day trading following the news.
SunPower Corp. (SPWR) – SunPower is a clean energy and storage company that designs, manufactures, and delivers solar panels and systems to both residential and commercial customers.
SPWR had a Dollar Volume of $175.37 million on July 24, while its stock price rose by 7.5%. SunPower shares have been largely volatile in the past few days, ever since the company announced the halting of certain operations and a starkly negative comment by a Guggenheim analyst. Since July 18, SPWR stock has lost nearly 60% of its value.
MicroCloud Hologram (HOLO) – China-based MicroCloud provides software and hardware holographic solutions. The company’s holographic technology and solutions are used in several fields, including content services, smart car holographic fields, and holographic cloud data processing.
On July 24, HOLO had a Dollar Volume of $79.17 million, with its stock price plunging by 22.4%. There was no specific news for HOLO yesterday. Shares have been volatile this year, losing over 87% year-to-date.
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.
