Volato Group, PainReform Ltd., and Interactive Strength Inc. are the 3 Penny Stocks to watch on November 21, 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 November 20, 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.
Volato Group (SOAR) – Volato operates in the aviation space with its Vaunt platform that connects travelers with available private flights for on-demand travel. The company offers fractional ownership of private jets, jet cards, charter, and aircraft management services.
On November 20, SOAR had a Dollar Volume of $313.21 million, while its share price fell by 27.1% and continued the descent in after-hours trading. The share price decline seems to be a reversal from the prior day’s rally when shares rallied over 122%. On November 18, Volato announced over a 100% jump in total revenue, backed by two Aircraft sales. Importantly, Volato announced that the NYSE American accepted its plan to regain compliance with the stock exchange’s listing requirement and had until December 18, 2025, to continue listing.
PainReform Ltd. (PRFX) – Israel-based PainReform is a clinical-stage specialty pharmaceutical company that is focused on the reformulation of established therapeutics. Its proprietary extended-release drug-delivery system provides prolonged post-surgical pain relief without the need for repeated dosage.
PRFX had a Dollar Volume of $274.13 million yesterday, with its stock price skyrocketing over 197%, but falling by 77% in extended trading. On November 20, PRFX announced positive partial top-line data for the Phase 3 clinical trial evaluating its lead drug candidate PRF-110 in treating post-surgical pain management of patients undergoing bunionectomy. Moreover, on November 18, PRFX announced a one-for-four reverse stock split of its common stock to regain compliance with Nasdaq’s minimum bid price requirement for continued listing. Shares are expected to start trading on a split-adjusted basis today, November 21. Shares have been volatile following this news.
Interactive Strength Inc. (TRNR) – Interactive Strength is a connected health fitness company that offers specialty fitness equipment and virtual training sessions. Some of its renowned brands include CLMBR, FORME, and FORME GOLF.
TRNR had a Dollar Volume of $101.61 million on November 20, with its stock price declining by 8.9%. Similar to Volato, TRNR’s share price fall seems to be a reversal from the prior day’s rally. On November 19, Interactive Strength announced that it had partnered with Saudi Arabia’s Armah Sports to install its CLMBRs in three of the nine B_FIT locations in the country. Following the news, TRNR shares jumped 55.7%.
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.
