With penny stocks heating up in recent trading sessions, volume is higher than it has been in the past few months. While volume is by no means the only metric used to calculate if a penny stock is worth buying, it can be helpful.
If you’re unfamiliar with this, volume essentially equals liquidity. If volume is low, it will be difficult to buy and sell a stock, and vice versa. But, there are a few other nuances that volume can identify. On one hand, given that volume is the amount of shares traded in a given time frame, it can illustrate how popular a penny stock is.[Read More] Could These Biotech Penny Stocks Explode in August 2021?
For example, when the GME stock trading fiasco occurred months ago, volume was in the hundreds of millions for several days on end. This meant that liquidity was high, and prices were shifting very quickly. And today, we see volume as a major indicator of how trending a stock is overall. So, with a wild week of trading penny stocks more or less behind us, let’s take a look at four high-volume penny stocks to watch right now.3 High Volume Penny Stocks For Your Watchlist
- India Globalization Capital Inc. (NYSE: IGC)
- Second Sight Medical Products Inc. (NASDAQ: EYES)
- PainReform Ltd. (NASDAQ: PRFX)
- Darkpulse Inc. (OTC: DPLS)
One of the biggest gainers of the day so far is IGC stock, pushing up by over 115% by midday. In the past week, that number jumps up to over 155%, bringing it to just over $3.60 per share. While many sizable gains occur without news, today, IGC made an exciting announcement. The company stated that on July 20th, the U.S. Patent and Trademark Office, issued patent #11,065,225 for the treatment of Alzheimers with THC.
The patent is titled “Ultra-low dose THC as a potential therapeutic and prophylactic agent for Alzheimer’s Disease.” The patent will allow the company to effectively begin treating Alzheimer’s patients with IGC-AD1 in a Phase 1 clinical trial. The trial comes after an initial Cohort 3 trial that was just completed utilizing a Multiple Ascending Dose safety and tolerability study.[Read More] 4 Best Penny Stocks To Buy As Musk Recharges Dogecoin & Ethereum?
India Globalization operates in both the development of cannabinoid therapies for Alzheimers and for pain management needs. It considers itself an infrastructure and life sciences company and continues to be on the cutting edge of cannabis-based medicines. While it is highly volatile, especially with today’s gain in mind, it could be worth adding to your watchlist.Second Sight Medical Products Inc. (NASDAQ: EYES)
EYES stock is a frequently discussed biotech penny stock across social media websites such as Twitter and Reddit. After completing a sizable 1.5 million share public offering worth $5 per share, the company states that it should have around $57.5 million in gross proceeds. This should be plenty to fund the further development of its Orion device. For some context, Second Sight is a biotech company working on the production of implantable visual prostheses.
As its ticker symbol may show, the company is focused on restoring sight to those who have lost it or have impairments relating to the eye. Its flagship product right now is the Orion Visual Cortical Prosthesis System (Orion), which is an implantable visual stimulation device. It can be put to use in those suffering from diabetes, glaucoma, or other ailments that can cause eye-related conditions. In the past five days, shares of EYES stock have shot up by around 14%, and in the past six months by over 125%. Considering this, will it be on your list of penny stocks to watch?PainReform Ltd. (NASDAQ: PRFX)
Up by around 30% at midday are shares of PRFX stock. While shares were up by as much as 108% in early morning trading, they quickly corrected to its current price of around $4. This is a perfect example of a major gain that occurred without any news to back it. So, to understand why it may have shot up in value, let’s take a closer look at PRFX stock.[Read More] 3 Penny Stocks That Are Popular on Reddit Right Now
In its Q1 quarterly report posted in May, the company announced that it had secured the protocol for its Phase 3 clinical trial of PRF-110 for the treatment of those undergoing bunionectomy surgery.
“We continue to make progress towards commencing our Phase 3 clinical trials of PRF-110 in preparation for the Phase 3 clinical trials and are working to address delays due to our CMC partner.”Ilan Hadar, CEO of PainReform
Financially, the company ended the quarter with more than $19.4 million in cash on hand and a net loss of around $2.04 million. This type of loss is common for a company that is in the pre-commercialization stages of a product. But, with its extended-release drug-delivery system showing potential, PRFX stock could be worth watching in the long term.Darkpulse Inc. (OTC: DPLS)
DPLS stock is one of the most frequently discussed penny stocks right now. In the past month, shares of Darkpulse have shot up by over 85%, and since June 1st, by over 500%. Keep in mind that shares of DPLS stock sit at around the $0.13 mark as of July 22nd, which means that volatility could be extremely high.
And, before June 1st, there was little volume and little talk of the company online. A few weeks ago, Darkpulse announced the signing of a letter of intent to acquire TerraData Unmanned, PLLLC, a drone company that produces underwater inspection drones. This can be used in bridge inspection, water management, 3D modeling, and much more.
“As Darkpulse continues to build best in class technology service offerings to the critical infrastructure/key resources market, we look for teams such as TerraData to bring experienced personnel and leading-edge equipment allowing the Company to operate AI-assisted inspection services in all mediums including land, sea, and air.”The CEO of DarkPulse, Dennis O’Leary
While this may not fully explain DPLS stock’s meteoric rise in value, it could be something to consider. With this in mind, will DPLS stock be on your watchlist?Are These High Volume Penny Stocks Worth It?
Finding the best penny stocks to buy is all about understanding what makes them move. With so many stocks to choose from right now and so much going on in the world, it can seem difficult to keep track.
But, by considering how these factors may affect certain penny stocks, it can be much easier to pick winners. With this in mind, do you think that these high-volume penny stocks are worth it?