Roadzen Inc., Ocean Power Technologies, and Versus Systems are the top three penny stocks to watch on July 4, 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 less than $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.
We used the tool to identify the top three penny stocks with the highest Dollar Volume as of the close on July 3, 2024. Dollar Volume is calculated by multiplying the number of shares traded on a particular day by the day’s share price. We also looked at Relative Volume and Average Volume (last 3 months) to determine the level of trading activity compared to the average.
Roadzen Inc. (NASDAQ:RDZN) is an insurtech company that offers auto insurance solutions using artificial intelligence. On July 3, RDZN had a Dollar Volume of $318.61 million, with its stock price falling by 6.8%. The company’s revenues increased by 245% to $46.7 million in its first full year as a publicly traded company, leading to a surge in trading volumes.
Ocean Power Technologies (NYSEAmerican:OPTT) provides innovative maritime solutions and services backed by AI. OPTT had a Dollar Volume of $316.86 million on July 3, with its stock price falling by over 22.7%. The decline was seen as a correction after a significant rally on July 2 following a strategic partnership announcement with UAE-based Unique Group.
Versus Systems Inc. (NASDAQ:VS) is a Canada-based interactive media platform that allows content creators and brands to incorporate games and real-world rewards into their content. On July 3, VS had a Dollar Volume of $111.95 million, with its share price increasing by 9.5% after naming a new interim CEO and announcing strategic restructuring plans.
For more penny stock recommendations, investors can utilize TipRanks’ Penny Stock Screener tool to access a comprehensive list of penny stocks, their price movements, and other essential data.