Penny stocks can offer significant profit opportunities for investors willing to take on higher risk. Today, we’ll take a look at the top five penny stocks that have recently demonstrated impressive gains and strong trading activity. These stocks span across various industries and may be worth considering for investors seeking potential growth opportunities.
We would specifically like to draw your attention (Disclaimer below) to a small cap company CLS Holdings USA, Inc., trading under the symbol (OTCQB: CLSH) (CSE: CLSH). The stock is currently up over 40% on light volume today.
The company recently announced fiscal third-quarter 2023 financial results that have yet to garner attention from Wall Street. According to the press release, Q3 2023 Financial & Operational Highlights include: net revenue for Q3 2023 was $5.437 million; dispensary revenue increased 6% to $3.529 million, while production revenue decreased 15% to $1.908 million; gross profit for Q3 2023 was $3.019 million, or 56% of net revenue; net loss for Q3 2023 was $1.030 million; and EBITDA for Q3 2023 was $505 thousand. (Source: https://finance.yahoo.com/news/cls-reports-fiscal-third-quarter-120000776.html)
Today morning, CLS Holdings CEO Recapped 420 Festivities in Las Vegas, NV. As per the press release, Oasis Cannabis Dispensary saw 2,700 people who spent an average of $70 per person. Click HERE to read more.
Other Penny Stocks to place on top of radar include:
Fisker Inc. (FSR) is an electric vehicle manufacturer whose stock price has risen by 7.87% today. With a current trading volume of 6.59 million shares and an average three-month volume of 7.93 million shares, Fisker’s market cap stands at $1.58 billion.
Bluebird bio, Inc. (BLUE), a biotechnology company focused on gene therapies, saw its stock price increase by 5.96% today. The company has a trading volume of 3.23 million shares and an average three-month volume of 4.26 million shares. Its market cap currently stands at $387.72 million.
Canoo Inc. (GOEV), an electric vehicle company, experienced a 7.00% increase in its stock price today. With a trading volume of 12.16 million shares and an average three-month volume of 23.32 million shares, Canoo’s market cap is $359.45 million.
Spectrum Pharmaceuticals, Inc. (SPPI) is a biopharmaceutical company that has seen its stock price soar by 23.87% today. The company has a trading volume of 27.96 million shares and an average three-month volume of 1.63 million shares. Its market cap is currently at $175.59 million.
Lastly, ZeroFox Holdings, Inc. (ZFOX), a cybersecurity firm, has witnessed a 9.17% increase in its stock price today. With a trading volume of 9.39 million shares and an average three-month volume of 643.26 thousand shares, ZeroFox’s market cap is $141.11 million.
Investors seeking exposure to a variety of industries through penny stocks may find these companies to be intriguing options. However, it is crucial to conduct thorough research and exercise caution when investing in penny stocks, as they can be highly volatile and carry a higher degree of risk.
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