Versus Systems, ProQR, and Santech Holdings are the 3 Penny Stocks to watch on October 17, 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.
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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 October 16, 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.
Versus Systems (VS) – Versus Systems’ proprietary in-game prizing and promotions platform allows game developers and publishers to offer real-world rewards inside their games. On October 16, VS had a Dollar Volume of $434.97 million, with its stock price rallying by 243.5%.
Yesterday, Versus announced two major agreements with Aspis Cyber Technologies, a cloud-based mobile endpoint cybersecurity company. Under the first agreement, Aspis will invest $2.5 million in Versus in exchange for an unsecured convertible promissory note. Under the second agreement, Aspis can license Versus Systems’ gamification, engagement, and QR code technology for integration into its cybersecurity offerings in exchange for a monthly license fee.
Versus Systems stated that these agreements will help it maintain a minimum of $2.5 million in shareholders’ equity for continued listing on The Nasdaq Capital Market.
ProQR Therapeutics (PRQR) – ProQR Therapeutics is a biotechnology company focused on developing transformative RNA therapies. On October 16, PRGR had a Dollar Volume of $209.81 million, with its stock price jumping 122.1%.
On Wednesday, shares of ProQR and other companies developing RNA-editing therapies rallied after breakthrough data from Wave Life Sciences Ltd.’s clinical trial reflected the solid potential of the technology.
Santech Holdings (STEC)– Santech is a China-based technology company. STEC’s Dollar Volume stood at $204.24 million yesterday, with a massive 602% rise in the stock price.
There was no company-specific news on Wednesday. Last month, Santech disclosed that its Chairman Han Hongwei and CEO Wang Dian were detained by a certain branch office of the Shanghai Municipal Public Security Bureau due to alleged illegal activities at Hywin Wealth Management. The company also disclosed an investigation related to this matter.
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.
