Pineapple Holdings, Longeveron, and 180 Life Sciences are the 3 Penny Stocks to watch on July 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.
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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 July 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.
Pineapple Holdings, Inc. (NASDAQ:PEGY) – Pineapple Holdings operates through its wholly-owned unit, Pineapple Energy. Pineapple Energy engages in acquiring, and growing solar, storage, and energy services firms across the U.S.
PEGY had a Dollar Volume of $178.41 million on July 10, with its stock price surging over 20.8%. In fact, the shares have been trending upwards since July 9, zooming over 131%. The share spike was due to PEGY’s deal with Conduit Capital, announced on July 8. Conduit Capital will provide support and staffing for Pineapple Energy’s capital-raising activities. However, the company’s shares are retreating in pre-market trading today, down 10.4%, as of the last check.
Longeveron Inc. (NASDAQ:LGVN) – Longeveron is a clinical-stage biotechnology company that develops cellular therapies for aging-related and life-threatening conditions. The company aims to improve patients’ health by using cells sourced from healthy adult donors’ bone marrow to promote tissue repair, organ maintenance, and immune system function.
On July 10, LGVN had a Dollar Volume of $104.07 million, accompanied by a stock price jump of 58.5%. In the after-hours trading, the stock did lose some steam, dropping by 10.4%. On July 10, Longeveron announced that its investigational drug, Lomecel-B, received the Regenerative Medicine Advanced Therapy (RMAT) designation from the U.S. FDA for treating mild Alzheimer’s Disease. The news sent LGVN shares skyrocketing by over 122% in intraday trading yesterday.
180 Life Sciences (NASDAQ:ATNF) – 180 Life Sciences is a clinical-stage biotechnology company focusing on developing therapies for treating chronic pain, inflammation, and fibrosis. The company has three programs targeting various inflammatory diseases at different stages of preclinical and clinical trials.
On July 10, ATNF had a Dollar Volume of $90.83 million, with its share price declining by 19.2%. While there was no specific news on July 10, ATNF shares skyrocketed over 196% on July 9 and reversed course on July 10. Meanwhile, on July 2, the company received an extension from the Nasdaq Hearing Panel to regain compliance with the Nasdaq’s minimum stockholders’ equity requirement by July 31, 2024.
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.
