Major stock markets took another hit Monday as concerns mounted about the aftermath of the coronavirus pandemic. Despite the overall drop, there were still several high volume penny stocks that were in the green after experiencing massive volume.
High volume penny stocks can signal that a company is making big moves or that they are in an industry that is expected to do well. But, high volume doesn’t always mean a stock is worth buying, and some of these stocks should definitely be avoided.
Those looking at penny stocks should look at a number of factors when deciding which ones are worth investing in.
With that in mind, here are five penny stocks that not only had high volume on May 4 but also saw an increase in their share price.
High Volume Penny Stocks to Watch: MicroVision, Inc. (NASDAQ:MVIS)
MicroVision Inc. comes in at the top of the list of high volume penny stocks to watch on May 4 after seeing a trading volume of over 180 million shares.
The unprecedented trading volume sent MVIS stock up 147.5% on Monday to $1.10 and is the first time MicroVision stock is selling at more than a dollar.
Although MicroVision didn’t release any news, there have been rumors that tech giant Microsoft (NASDAQ:MSFT) is making a move to acquire the small-cap tech company.
Last month, MicroVision announced that it has retained investment banking firm Craig-Hallum Capital Group LLC as its financial advisor as the company explores various licensing and other strategic alternatives, including a potential sale or merger.
There hasn’t been any confirmation from either company in regards to the takeover rumor, but that didn’t stop investors from buying up MVIS stock on Monday in hopes of getting in on the potential transaction.
If Microsoft turns out to be making a move on MicroVision, it’s likely to provide shareholders with a hefty premium (but, of course, there’s still no concrete information on whether this is happening or not).
MicroVision has a market cap of $58.7 million, with 130,178,000 shares issued.
High Volume Penny Stocks to Watch: Remark Holdings Inc. (NASDAQ:MARK)
Next up on the list of high volume penny stocks to watch May 4 is Remark Holdings, a tech company focused on the development and deployment of artificial intelligence-based (AI) solutions for businesses and software developers across several industries.
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On Monday, Remark stock was up 55% to $0.83, its highest price this year, after seeing over 84 million shares trade hands.
Last Thursday, the company announced that it began shipping and deploying products from its family of AI thermal solutions, which includes its Thermal Kits, Thermal Pads, and Thermal Helmets, in Japan and the US.
“We are proud that customers such as casinos, entertainment venues, government agencies, hospitality organizations, industrial operations, law enforcement, and retail establishments have placed their trust in our AI-based thermal products to function as part of the solution for reopening the U.S. economy,” said Remark Holdings CEO Kai-Shing Tao.
Remark stock has been increasing consistently since this announcement, but Monday was by far the highest volume of trading.
It isn’t surprising to see Remark products in high demand right now, as they offer touch-free access control and monitoring, accurate temperature measurement, and the ability to scan up to 120 people per minute.
On top of that, they can filter out non-human heat sources and provide security personnel with real-time alerts that include photo identification.
Remark Holdings stock is up 33.8% for the year at $0.83, with a market cap of $29.7 million and 55.066,000 shares issued.
High Volume Penny Stocks to Watch: IZEA Worldwide, Inc. (NASDAQ:IZEA)
Third on the list of high volume penny stocks to watch is IZEA Worldwide, operator of premier online marketplace IZEAx.
On Monday, IZEA stock experienced a massive trading volume of over 78 million shares after announcing an upcoming streaming event to demonstrate the latest capabilities of BrandGraph®, the company’s newly released social intelligence platform.
According to the release, IZEA founder and CEO Ted Murphy will be providing an overview of the BrandGraph platform, which analyzes the content of over four million social media influencers to garner insights for marketers and brands of all sizes.
The platform recently reached a milestone of analyzing and enriching over 500 million pieces of content and has continued to add new content insights every 10 seconds.
The news sent IZEA stock up 73.59% on Monday to $0.37, marking a new high for 2020.
It’s evident that investors were excited about the news, with the stock experiencing much higher-than-usual trading volume.
For those who are interested in learning more about the company’s social intelligence platform, the streaming event will be taking place on May 18.
In the meantime, IZEA Worldwide is definitely one of the high volume penny stocks to keep an eye on.
IZEA has a market cap of $7.68 million, with 35,078,000 shares issued.
High Volume Penny Stocks to Watch: Zomedica Pharmaceuticals Corp. (NYSEAMERICAN:ZOM)
Veterinary diagnostic company Zomedica Pharmaceuticals Corp. is another one of the high volume penny stocks to watch this week after more than 52 million shares traded hands.
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Of course, this isn’t the first time ZOM stock has experienced a massive trading volume.
Last month, Zomedica announced a $4 million public offering, which resulted in a trading volume of 52.8 million shares. The securities are being sold in a fixed combination consisting of one common share and 0.5 of a warrant at a combined public offering price of $0.12 per share and accompanying warrant. Each whole warrant will be exercisable for one common share.
A week later, the company revealed that it is not in compliance with the NYSE American continued listing standard because its common shares have been selling at a low price per share for a substantial period of time.
Hopefully, the recent uptick means that the company’s luck is turning around.
The most recent new from Zomedica was in regards to a major development milestone with Qorvo Biotechnologies, LLC. The two companies are working to develop what they believe is a first-of-its-kind, complete thyroid and adrenal detection platform that uses proprietary, non-optical Bulk Acoustic Wave sensor technology.
On April 21, the company announced that it has completed the verification of TRUFORMA™, its point-of-care diagnostic biosensor platform, and the first assay, Canine total T4 thyroxine.
The TRUFORMA T4 assay will also be subjected to verification testing for feline applications. Additional verification activities are ongoing for the remaining four go-to-market thyroid and adrenal TRUFORMA assays.
Once verification testing is complete, Zomedica expects to commence the validation of each assay and to initiate a parallel pilot program to optimize the customer experience. Assuming successful completion of this verification and development work, the company plans to begin commercialization of all five initial assays in select strategic markets.
ZOM stock was up 8.81% on Monday to $0.19, with a market cap of of $28.5 million and 162,205,000 shares issued.
High Volume Penny Stocks to Watch: Transportation & Logistics Systems, Inc. (OTCPK:TLSS)
Last but definitely not least on the list of high volume penny stocks to watch on May 4 is Transportation & Logistics Systems, Inc., a transportation and logistics company.
TLSS stock has been experiencing a massive trading volume since announcing its preliminary Q1 2020 results on April 28, with an average daily volume of over 96 million shares.
Transportation & Logistics Systems saw a 49% increase in its Q1 2020 revenue, which went from $5.8 million in Q1 2019 up to $8.6 million.
According to the company’s chairman and CEO, John Mercadante, the increase in revenues was primarily attributable to its expansion into new markets in Florida, Georgia, Ohio, and Tennessee in the fall, securing new sales opportunities, and greater demand for the company’s services due to the increase in online ordering as a result of COVID-19.
On Monday, TLSS stock was up 10.8% to $0.02, with a market cap of $310,000 and 11,739,000 shares issued.
Takeaway
The current stock market volatility can be tough to navigate, but for investors with an appetite for risk, there are also plenty of lucrative opportunities.
One way to get in on the excitement is by investing in high volume penny stocks that are doing exciting things. Although penny stocks are inherently risky, they can also lead to big payoffs.
The trick is choosing the right penny stocks to invest in. Whether you are into gold penny stocks, biotech small-cap stocks, or just simply prefer loading up on stocks that are under $5, there are several great options to choose from.
Just make sure you do your homework before making any moves.
Are there any high volume penny stocks that you have been keeping an eye on? Tell us about them in the comments!
Featured Image: DepositPhotos © coffeekai
