Graphjet Technology, Avinger, and Snow Lake Resources are the 3 Penny Stocks to watch on December 27, 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 26, 2024. Simply put, Dollar Volume is the number of shares traded on a particular day multiplied by the day’s share price.
Graphjet Technology (GTI) – Graphjet Technology is a Malaysia-based graphene and graphite producer. The company claims to have the world’s first patented technology to recycle palm kernel shells that are generated in the production of palm seed oil to produce single-layer graphene and artificial graphite.
On December 26, GTI had a Dollar Volume of $161.94 million, while its stock price plunged by about 44.5%. Shares fell despite the announcement that the Malaysian Deputy Minister of Plantation and Commodities YB Datuk Chan Foong Hin visited the company’s first-of-its-kind green graphite facility.
Avinger (AVGR) – Avinger is a commercial-stage medical device company that sells image-guided, catheter-based systems for the treatment of patients with peripheral artery disease. AVGR had a Dollar Volume of $155.92 million on December 26, with its stock price falling 12%. There was no company-specific news.
Snow Lake Resources (LITM) – Snow Lake Resources Ltd. (also called Snow Lake Energy) is a Canadian clean energy exploration company. It is focused on clean energy mineral projects, mainly two uranium projects and two hard rock lithium projects. LITM’s Dollar Volume stood at $105.83 million on December 26, while its stock price rallied over 50%.
The rise reflects investors’ optimism following the company’s announcement that it has secured funding to advance its uranium exploration projects that support nuclear energy’s vital role in powering artificial intelligence (AI) data centers.
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
