La Rosa Holdings Corp., Pop Culture Group, and Faraday Future Intelligent Electric are the 3 Penny Stocks to watch on June 27, 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 that had the highest Dollar Volume as of the close on June 26, 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.
La Rosa Holdings Corp. (NASDAQ:LRHC) – La Rosa Holdings operates an end-to-end real estate services platform. The company unifies residential brokerage, mortgage, title, and insurance services on its single platform. On June 26, LRHC had a Dollar Volume of $121.51 million, while its stock price jumped 22.2%.
Notably, LRHC shares have been on an upswing since June 25, when the company announced that it will white label its proprietary AI-powered (artificial intelligence) system, JAEME. The system aids real estate agents to personalize and enhance marketing and sales. The step will bolster LRHC’s sales with a new revenue stream. In the last two days, LRHC shares have zoomed 43.3%.
Pop Culture Group (NASDAQ:CPOP) – Pop Culture Group (or Pupu Culture Group) is a Chinese entertainment company focused on promoting hip-hop culture among youth as a means of exchange between China and the U.S. The company organizes entertainment events and hip-hop-related online programs. It also offers event planning and marketing services for corporate clients.
CPOP had a Dollar Volume of $63.26 million on June 26, while the stock price rallied 15.5%. There is no significant news explaining the unusual volume trading in Pop Culture Group stock. Since June 25, CPOP shares have gained over 33%.
Faraday Future Intelligent Electric (NASDAQ:FFIE) – Faraday Future Intelligent Electric has been a victim of the recent meme stock frenzy. The company manufactures next-generation smart electric connected vehicles. The company’s shares have been rather volatile. However, yesterday’s rally was backed by favorable news. On June 26, FFIE had a Dollar Volume of $48.70 million, while the share price skyrocketed by over 73%.
Yesterday, automakers Rivian’s (NASDAQ:RIVN) announced a joint venture with Volkswagen (OTC:VWAGY) (DE:VOW3), whereby the latter will invest up to $5 billion in tranches in Rivian to produce low-cost EVs. The news drove shares of major EV makers, including FFIE, higher on Wednesday. At the same time, FFIE’s move to regain NASDAQ’s listing compliance laos influenced the stock price. On June 24, the company proposed a reverse stock split of up to 40:1 as well as an increase in authorized share capital.
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.
