SOBR Safe, MicroCloud Hologram, and WiMi Hologram Cloud are the 3 Penny Stocks to watch now, 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.
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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 June 5, 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.
SOBR Safe (NASDAQ:SOBR) – SOBR Safe hosts state-of-the-art alcohol detection technology that is transdermal (touch-based) and requires no breath, blood, or urine samples. This technology finds applications in the judicial, personal, behavioral health, and commercial fields. On June 5, SOBR had a Dollar Volume of $123.30 million, while the stock price declined by 28.5%.
SOBR stock seems to have pulled back after June 4’s rally. The company signed sales deals with two new behavioral health customers and two recovery services companies. All the companies have agreed to replace their existing breathalyzers with SOBRsure/SOBRcheck devices.
MicroCloud Hologram Inc. (NASDAQ:HOLO) – China-based MicroCloud provides software and hardware holographic solutions. HOLO had a Dollar Volume of $104.44 million on June 5, with its stock price plunging 15.7%. HOLO shares are caught in the recent meme stock rally and have been rather volatile. In the past five days, HOLO stock has gained 8.4%, with the stock spiking 32% in mid-day trading on June 4.
WiMi Hologram Cloud Inc. (NASDAQ:WIMI) – WiMi Hologram Cloud is also a Chinese company offering services to the holographic industry. On June 5, WIMI’s Dollar Volume stood at $63.42 million, while shares slipped 13.6%.
The company’s shares spiked over 48% in intraday trading on June 4 and ended the day up 25%. There was news of Wimi jointly launching a Micro-Consciousness Quantum Research Center with MicroAlgo Inc. (NASDAQ:MLGO). Following the news, MLGO shares skyrocketed 670% on June 4. Both WIMI and MLGO shares were down on June 5.
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.
