VSee Health, Dermata Therapeutics, and Exicure, Inc. are the 3 Penny Stocks to watch on August 6, 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 with the highest Dollar Volume as of the close on August 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.
VSee Health (VSEE) – VSee Health is a Software-as-a-Service (SaaS) provider that enables clinicians and enterprises to build customizable workflow streams and enhance patient care.
On August 5, VSEE had a Dollar Volume of $201.64 million, with its stock price crashing 37.2%. The decline marked a reversal from the rally witnessed on Friday. On August 1, VSee Health announced a partnership with Ava Robotics to develop an intelligent robot for the inpatient intensive care unit (ICU). The robot will enable physicians to have virtual access to patients and staff for consulting and help make on-time treatment decisions. In reaction to the news, VSEE shares skyrocketed over 74% on Friday, reaching intraday highs of over 160%.
Dermata Therapeutics (DRMA) – Dermata Therapeutics is a clinical-stage biotechnology company focused on developing treatments from natural sources for skin diseases with high unmet needs. DRMA had a Dollar Volume of $123.08 million on August 5, while its stock price fell by 18.3%. There has been no specific news related to Dermata’s high trading volumes and share price volatility in the last couple of days. Since July 31, DRMA shares have surged nearly 53%.
Exicure, Inc. (XCUR) – Exicure is an early-stage biotechnology company focused on developing treatments based on nucleic acid. XCUR’s Dollar Volume stood at $44.59 million on August 5. The stock declined by nearly 23%. While there was no specific news yesterday, the fall seems to be a correction following Friday’s rally.
On August 1, Exicure announced that it received a conditional Nasdaq listing extension. The company can continue listing its shares on the Nasdaq Capital Market until September 16, 2024, subject to meeting certain listing criteria. Following the news, XCUR shares skyrocketed about 35% on August 2.
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.
