Three Penny Stocks to Watch on July 2: Innovative Eyewear, Actelis Networks, and Faraday Future Intelligent Electric are the top three penny stocks to keep an eye on for July 2, according to TipRanks’ Penny Stock Screener tool. Penny stocks are stocks that trade at or below $5 per share and have a market capitalization of below $300 million.
The Penny Stock Screener tool helps investors scan stocks based on various parameters such as Sector, Price Target Upside, Smart Score, Analyst Consensus, Dollar Volume, and Price Change.
By using the tool, we identified the top three penny stocks with the highest Dollar Volume at the close on July 1, 2024. Dollar Volume is calculated by multiplying the number of shares traded on a particular day by the day’s share price. We also considered Relative Volume and Average Volume (last 3 months) to evaluate the trading volumes compared to the average.
Innovative Eyewear (NASDAQ:LUCY) offers ChatGPT-powered smart glasses that allow users to listen to music, attend calls, and make calls using voice-assisted artificial intelligence. On July 1, LUCY had a Dollar Volume of $180.60 million, with its stock price rising by 6.3%. However, the shares declined by 9.2% in after-hours trading. In the last two days, LUCY shares surged by over 59% following the launch of its new rimless ChatGPT Smart Eyewear design.
Actelis Networks (NASDAQ:ASNS) is a networking solutions company that provides fast, secure, and cost-effective communication for IoT projects across various sectors. ASNS had a Dollar Volume of $165.42 million on July 1, but the stock price dropped by 12.5% after the company announced the exercise of certain outstanding warrants.
Faraday Future Intelligent Electric (NASDAQ:FFIE) is a favorite among meme stock traders, manufacturing smart electric vehicles. On July 1, FFIE had a Dollar Volume of $100.01 million, with the share price falling by over 9%. The recent decline in share price is seen as a pullback from the sharp increase in the past few days due to positive news related to joint ventures and listing approvals.
For more penny stock recommendations, investors can explore TipRanks’ Penny Stock Screener tool, which provides a list of penny stocks, their price movements, and other essential data.