Nvni Group, Elevai Labs Inc., and Canoo are the 3 Penny Stocks to watch on January 28, 2025, 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.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
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 January 27, 2025. Simply put, Dollar Volume is the number of shares traded on a particular day multiplied by the day’s share price.
Nvni Group Ltd. (NVNI) – Brazil-based Nvni is an investment holding company that acquires profitable B2B SaaS (Software as a Service) businesses across Latin America. On January 27, NVNI had a Dollar Volume of $1.62 billion, while its stock price fell by 1.6%.
NVNI shares have been rather volatile since the close of the market on January 23, gaining over 190%. Shares surged on the news that Nvni regained compliance with Nasdaq’s minimum closing bid price requirement of $1 per share for 30 consecutive business days.
Elevai Labs Inc. (ELAB) – California-based Elevai Labs, now PMGC Holdings, is a diversified holding company. It owns four different businesses: Elevai Skincare, Elevai Biosciences, Elevai Research, and PMGC Capital LLC.
ELAB had a Dollar Volume of $239.33 million yesterday, while its share price plunged nearly 34%. The company announced an agreement with its existing institutional investors to exercise warrants to purchase 969,385 shares of its common stock at an amended exercise price of $2.00. PMGC expects to earn gross proceeds of $1.9 million from the offering. ELAB shares seemed to have collapsed in reaction to this news.
Canoo (GOEV) – Canoo is an electric vehicle (EV) manufacturing company based in Texas. GOEV stock had a Dollar Volume of $134.06 million on January 27, with a stock price decline of 13.8%.
Canoo shares have been volatile since the company filed for Chapter 7 Bankruptcy protection on January 17. Shares are expected to stop trading on the Nasdaq on January 29 and subsequently delist from the exchange.
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.
