Beneficient, Faraday Future Intelligent Electric, and Siyata Mobile are the 3 Penny Stocks to watch on September 10, 2024, 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 with the highest Dollar Volume as of the close on September 9, 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.
Beneficient (BENF) – Beneficient helps investors easily exit their alternative asset investments by providing on-demand, in-depth investment analytics to make well-informed decisions. It operates an end-to-end secure digital account and custody platform for individuals, wealth advisors, general partners, institutional investors, and its own preferred liquidity partners.
On September 9, BENF had a Dollar Volume of $236.28 million accompanied by a stock price decline of 12.7%. The stock was perhaps impacted by the news of a large insider Informative share sale trade. According to a Form 4 filing with the SEC, GWG Wind Down Trust, a more than 10% owner of Beneficient, sold 586,214 shares worth $1.59 million on September 6 and 9.
Faraday Future Intelligent Electric (FFIE) – Faraday Future Intelligent Electric manufactures next-generation smart electric connected vehicles. FFIE stock had a Dollar Volume of $98.22 million yesterday, while its shares fell by 6.7%.
Since September 4, FFIE shares have surged over 30%, following news of the company securing an additional $30 million in financing commitments from investors in the Middle East, the United States, and Asia. Further, on September 6, the company announced that it received a written statement from the Nasdaq Stock Market LLC, informing that it regained compliance with all of the listing requirements in Nasdaq Listing Rule 5550(a)(2), including the minimum bid price requirement.
Siyata Mobile Inc. (SYTA) – Siyata manufactures and markets next-generation Push-To-Talk (PTT) cellular handsets and accessories. On September 9, SYTA stock had a Dollar Volume of $25.13 million, with its shares declining 5.6%. There was no specific news on the company yesterday. Siyata Mobile shares have been on a steady decline recently, losing over 60% in the past month.
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.
