Loop Industries, SEALSQ Corp., and VCI Global Ltd. are the 3 Penny Stocks to watch on December 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 December 16, 2024. Simply put, Dollar Volume is the number of shares traded on a particular day multiplied by the day’s share price.
Loop Industries, Inc. (LOOP) – Canada-based Loop Industries is on a mission to create a more sustainable circular plastic economy. It uses proprietary and patented technology to recycle and upcycle PET plastic and polyester fiber.
On December 16, LOOP had a Dollar Volume of $151.32 million, while its stock price fell by 4.9%. The decline in stock price seems to be a reversal from last week’s gains. On Friday, LOOP stock skyrocketed over 48% on news of selling its first technology license for an infinite loop manufacturing plant in Europe. In relation to the deal, Loop completed a convertible preferred security offering with Reed Societe Generale Group, which invested 10 million euros in the company’s venture.
SEALSQ Corp. (LAES) – Switzerland-based SEALSQ Corp. claims to be one of the six semiconductor companies in the world that can develop certified secure microcontrollers. LAES had a Dollar Volume of $111.83 million yesterday, while its stock price shot up by 40%.
LAES shares have been on an uptrend in the last couple of trading sessions, gaining over 500% in the past five days. A series of positive news has pushed up LAES shares. These developments include the launch of quantum technology to drone and UAV (Unmanned Aerial Vehicles) markets and the securities purchase agreement to sell 13.16 million shares for gross proceeds of $25 million.
VCI Global Ltd. (VCIG) – Malaysia-based VCI Global is a holding company. Its subsidiaries are engaged in consulting, fintech, artificial intelligence (AI), robotics, and cybersecurity solutions. VCIG’s Dollar Volume stood at $102.40 million on December 16, accompanied by a stock price fall of 10.9%.
VCIG stock has been rather volatile in the past couple of trading sessions. On December 12, VCIG announced a target to develop and acquire up to 100 MW (megawatts) of solar photovoltaic (PV) projects across Southeast Asia (SEA) and Europe within the next five years. This planned expansion would add roughly $200 million in revenues over the next 20 years. Shares jumped over 13% on the news on Friday.
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.
