Leafly Holdings, Venus Concept, and Trinity Place Holdings are the 3 Penny Stocks to watch on June 11, 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 that had the highest Dollar Volume as of the close on June 10, 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.
Leafly Holdings, Inc. (NASDAQ:LFLY) – Seattle-based Leafly is one of the world’s largest online marketplaces that connects consumers and producers of cannabis products. Consumers can directly order and purchase cannabis products from legal, licensed retailers through the Leafly platform. On June 10, LFLY had a Dollar Volume of $95.79 million, while the stock price shot up by 11.9%. Since June 6, LFLY shares have zoomed nearly 92%.
There has been no major news on Leafly Holdings lately except for the release of its annual report for Fiscal 2023 on June 7. Furthermore, LFLY stock has a Moderate Buy consensus rating on TipRanks, based on two Buy views. The average Leafly Holdings price target of $7.59 implies 160.8% upside potential from current levels.
Venus Concept, Inc. (NASDAQ:VERO) – Canada-based Venus Concept manufactures safe, non-invasive devices for aesthetic needs. It offers a wide portfolio of medical aesthetic and hair restoration technologies in over 60 countries.
VERO had a Dollar Volume of $64.69 million on June 10, with its stock price skyrocketing nearly 28%. On June 7, Venus Concept announced that it had regained compliance with Nasdaq’s minimum equity requirement as per Nasdaq Listing rules. The news sent VERO shares up over 170% in intraday trading. The stock has continued its upward momentum since, gaining 102.7% in the past two trading days. VERO stock has a Hold consensus rating on TipRanks based on two Hold ratings with no price targets assigned to the stock.
Trinity Place Holdings, Inc. (NYSEAmerican:TPHS) – New York-based Trinity Place Holdings is a real estate company that invests primarily in New York City. The company offers real estate development, finance, leasing, and asset management services. On June 10, TPHS’ Dollar Volume stood at $61.97 million, while shares ended the trading day flat. However, TPHS shares declined 11.6% in the extended trading session on June 10. TPHS shares have been rather volatile lately, with the stock skyrocketing 299% in mid-day trading on June 7 without any significant news.
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.
