timothy sykes logo

Penny Stocks-Timothy Sykes Millionaire Challenge

Top 9 Most Active Penny Stocks of 2024

Timothy SykesAvatar
Written by Timothy Sykes
Updated 5/22/2024 21 min read

What do the most active penny stocks have in common? Volume and volatility

For a penny stock trader, that means opportunity … as long as you’re prepared.

How can you find the most active penny stocks and navigate through the volatility? I’ll go over some of the basics here. I’ll also answer some frequently asked questions about penny stock activity, and tell you about a few active penny stocks from this year. Study up so you can prepare.

Let’s get to it!

What Are Active Penny Stocks?

most active penny stocks timothy
© Millionaire Media, LLC

Penny stocks are stocks that trade under $5 a share. The most active penny stocks have the highest trading volume — maybe a few million shares a day. Traders love them for their insane volatility.

How do you take advantage of that? It starts with education. I became a teacher so I can help traders prepare for the opportunities in active penny stocks. There’s no such thing as being too prepared. When I was starting out, I didn’t have anyone to help me prepare … Now I want to be the mentor I never had.

If you’re dedicated to trading and want help navigating your way through the volatility, apply to join my Trading Challenge. If you’re accepted — and not everyone is — you’ll get access to thousands of video lessons, live webinars, arguably the best trading chat room around, and more.

supernova placement

Why Is Penny Stock Volume an Important Indicator?

Volume shows how liquid a stock is. That’s crucial in penny stock trading.

Liquidity determines how easy it is to get in and out of a trade. If a stock isn’t liquid, there’s a chance you’ll get stuck in it.

That’s what happened to me. I ended up taking the biggest loss of my career because of illiquidity. You can read about it in my book “An American Hedge Fund.” I think every new trader should read it and learn from my mistakes…

A stock’s volume also gives you an idea of the direction it’ll take. More on that later…

How Can You Use the Volume Indicator When Penny Stock Trading?

Post image

Get my weekly watchlist, free

Sign up to jump start your trading education!

Trading isn’t an exact science. You never know for sure what’s going to happen. But you can make some pretty solid guesses if you study and learn the patterns.

Every pattern is different. But in general, if there’s big volume at a key level, a stock is more likely to follow a specific pattern.

Say a stock is about to go full-on supernova. You want to look for increased volume at breakout points. That indicates buyers are in control.

The opposite goes for a downtrending stock. If you see heavy volume as a stock breaks support, it means sellers are in control. You might want to cut your losses.

It’s not always that simple … To master the art of using volume in your trading, you’ll need to understand Level 2 quotes, catalysts, and the market in general.

You can get started with my “Learn Level 2” DVD. Also, check out my no-cost “Volatility Survival Guide” and YouTube videos

List of 9 Most Active Stocks

Before I get to the most active penny stocks from this year, I want to discuss a few higher-priced stocks that have been super active this year.

These have been some of the most volatile stocks I’ve seen — and they aren’t even penny stocks. I’m including them to show you that penny stock patterns and rules can apply to all stocks.

Super Micro Computer Inc (NASDAQ: SMCI)

On March 5 we learned that SMCI would join the S&P 500 this year.

That’s BIG news for a mega-cap stock.

Now, we usually trade low-priced stocks because:

  • We can load up on shares.
  • The low price helps the stock spike higher from a percentage perspective.

Higher priced stocks like SMCI aren’t known to surge like volatile penny stocks.

But the AI and tech sectors are so hot in 2024, we’re seeing some INSANE moves from big stocks. SMCI and NVDA are great examples.

Right now I’m watching SMCI because the chart looks a lot like a penny stock.

And in a lot of ways, SMCI acts as a tech sector leader. We can gain insight on tech trade opportunities in our low-price niche by watching setups like SMCI.

In 2024, prices spiked 330%* despite starting the year above $250 per share.

Look at the insane move so far this year. On the chart below, every candle represents one trading day:

SMCI chart multi-month, 1-day candles Source: StocksToTrade

I know that this runner is out of bounds for most small-account traders.

But … When large-cap stocks behave like volatile penny stocks, we can trade them for lower prices using options.

Now, at the mention of “options” a lot of traders shy away. But it’s not as confusing as you might think.

An option is a contract that gives you the right to buy or sell shares of a stock.

So, theoretically: If you think SMCI is going to trade higher in the future, you could buy a contract and then sell it after SMCI spikes without actually buying any shares of SMCI.

The value of the contract is what we’re trading, not the actual stock.

It’s easier said than done, but there IS a process for profits.For example, Ben Sturgill is a renowned options trader with verifiable profits. Take a look at his process.

There are so many opportunities to profit in this 2024 market.

Pick a strategy that makes sense to you and hit the ground running!

Canopy Growth Corp (NASDAQ: CGC)

The weed sector comes and goes. It’s never been the strongest batch of runners, but we have to respect CGC’s price action. The stock already spiked 231% between March and April.

This price action isn’t random.

There’s been a lot of talk about marijuana legalization recently. Both in the U.S. and worldwide:

  • POTUS Biden and VPOTUS Harris both recently expressed an interest in reforming the U.S. approach toward marijuana.
  • Germany decriminalized marijuana.

But CGC is also running thanks to a catalyst that was announced on March 14.

  • There was news of a potential acquisition. The vote deadline for the acquisition was April 10. On April 15 we learned of a successful shareholder vote to endorse the acquisition.

I snagged a profit on March 22 thanks to the potential acquisition news. The price started running before we even learned of a successful vote.

Take a look at my trade notes below, with a starting stake of $21,420:

Source: Profit.ly

And now that the acquisition is successful, there’s a chance the price pushes even higher.

Below, a multi-month chart of the run shows support at $6. Every candle represents one trading day:

CGC chart multi-month, 1-day candles Source: StocksToTrade

This stock is in play as long as it stays above $6!

Most Active Penny Stocks Under $5

Now for some of the most active penny stocks…

Most Active Penny Stocks #1: Parazero Technologies Ltd (NASDAQ: PRZO)

I bought shares of PRZO on Friday, April 12. The next Monday, my Birthday, April 15, I celebrated by selling those shares for a profit.

Unfortunately, that weekend the Middle Eastern conflict escalated, specifically between Israel and Iran. Israel had attacked an Iranian consulate early in April, and we learned of an incoming Iranian retaliatory strike the Friday of April 12.

But my experience in the stock market allowed me to take advantage of volatile price action related to the event.

There’s a chart below of the price action, every candle represents one trading day:

PRZO chart multi-month, 1-day candles Source: StocksToTrade

PRZO is an Israeli owned AI-drone company. And this isn’t the first time we’ve seen it spike.

In October 2023 — during the initial Hamas invasion of Israel, the stock spiked 460%.*

Interestingly enough, the company announced bullish news on Friday, October 6, the day before the Hamas attack. That’s why on the chart below, you can see the spike starting a day early.

Every candle represents one trading day:

PRZO chart multi-week, 1-day candles. Source: StocksToTrade

The spike in October ‘23 is the reason I had the foresight to snag profits on the most recent weekend gap up. And any follow up Middle East tension could cause it to spike again.

My trade notes are below, with a starting stake of $6,565:

Source: Profit.ly

PRZO is one of the latest weekend trades that I’ve made in 2024 …

Every Friday I watch for very specific price action! Here’s the framework I followed for PRZO.

Most Active Penny Stocks #2: WiSA Technologies (NASDAQ: WISA) — The Wireless Sound Penny Stock With Partnership News

I traded this runner multiple times when it started to spike on April 16.

The company announced an additional license with a “multi-billion dollar revenue company” for its immersive audio technology. And I had eyes on it before the market opened thanks to the Breaking News alert.

Take a look at the chart below with alert details. Every candle represents one trading day:

WISA chart intraday, 1-minute candles Source: StocksToTrade

These plays CAN run for multiple days, but it pays to have eyes on them early. For example, WISA spiked higher after April 16. The total move measures 920%.*

We’re seeing runners like this every week in the 2024 market!*

Here’s where you can find the next Breaking News trade alert.

Right after the market opened on April 16 I snagged some profits — my trade notes are below.

The first was with a starting stake of $8,760:

Source: Profit.ly

I traded it again midday for another profit. With a starting stake of $15,325:

Source: Profit.ly

The stock is still holding some of its gains. That’s a hint that it could push higher!

Take a look at the chart below that shows support at the $4 level, every candle represents five minutes:

WISA chart multi-day, 5-minute candles Source: StocksToTrade

Plus, StocksToTrade shows that the stock’s float is only 1.4 million shares.

Anything below 10 million shares is considered “low float” … also known as a low supply of shares. The low supply helps the share price spike higher when demand increases.

It essentially increases the volatility of the stock.

Keep an eye on this runner as it works back toward the breakout level.

Most Active Penny Stocks #3: MicroCloud Hologram Inc (NASDAQ: HOLO)

This is one of the most legendary short squeezes of 2024 … so far.

I’ve already written multiple blog posts about this stock and filmed a handful of videos tracking the price action …

Like the one below:


The most exciting thing about this stock right now: Past spikers can spike again.

There were HOLO spikes in January and August 2023 as well — 610%* and 350%* respectively

But unlike the most recent 2024 short squeeze, the spikes in 2023 had roots in the AI industry.

The volatility in 2024 just happened to turn HOLO into a massive squeeze. Forget the 610% and 350% 2023 spikes … in February 2024, HOLO launched 6,400%.*

It went from less than $2 to $98.

The chart below shows all of the moves since 2023. Each candle represents one trading day:

HOLO chart multi-month, 1-day candles Source: StocksToTrade

I don’t expect HOLO to run back to $98. That’s an unrealistic prediction. And besides, I don’t predict price action.

Instead, I react to it.

Here’s what I’ve noticed recently:

  • HOLO tried to spike in March.
  • It tried to spike twice in April.

I zoomed in on the daily chart below, take a look at the beat-down spike attempts:

HOLO chart, multi-week, 1-day candles Source: StocksToTrade

It’s only a matter of time until the stock tries to spike again …

Most Active Penny Stocks Under 10 Cents

Now let’s go over a couple of penny stocks priced under 10 cents per share…

Most Active Penny Stocks #4: American Diversified Holdings Corp. (OTCPK: ADHC)

ADHC provides executive management, accounting, corporate governance, and other services.

Several holding companies have been popular this year, but ADHC leads the pack in the micro-cap space.

Check out ADHC’s six-month chart…

ADHC 6-month, 1-day candles
ADHC chart: 6-month, 1-day candles (source: StocksToTrade)

This stock tends to grind sideways, then shoot up when there’s a catalyst and high volume. As with all these stocks, watch for increased volume on positive news — because anything can happen with that setup.

But be cautious. Don’t trade this stock if the volume doesn’t give you adequate liquidity.

That’s the main caveat to trading OTC stocks. If you get into an illiquid stock, you could be putting your money into a risky, long-term hold without knowing it.

Most Active Penny Stocks #5: Regen Biopharma (OTCPK: RGBP)

RGBP is a biotech company focused on stem cell regenerative medicines. The company uses clinical trials to test its treatments.

Here’s the chart for RGBP…

RGBP 3 month, daily candle
RGBP chart: 3-month, 1-day candles (source: StocksToTrade)

Look at the increased volume and price action starting April 8. It saw more than 100 million shares traded multiple days after.

This is a great example of a multi-day OTC runner. After the first green day, traders piled in to take advantage of the rising price and increased volume. That led to greater volume over the next few days, which pushed the price even higher.

Most Active Penny Stocks in Canada

These Canadian stocks also trade in the U.S. markets. That can bring in more volume…

Most Active Penny Stocks List #6: Crescent Point Energy Corporation (NYSE: CPG)

CPG is a Canadian oil and gas company with oil and natural gas reserves in Canada and the United States.

Check out the chart…

CPG 6-month, 1-day
CPG chart: 6-month, 1-day candles (source: StocksToTrade)

The volume here looks a little different from the other charts. There isn’t a big gap up in volume or price action.

The thing I like about this stock is a bit harder to notice. If you look closely, you can see that the price action and volume follow the same trend.

Most Active Penny Stocks List #7: Liquid Media Group (NASDAQ: YVR)

YVR produces content for TV, gaming, and film networks. Look at the chart…

YVR 3-month, 1-day
YVR chart: 3-month, 1-day candles (source: StocksToTrade)

I think this company likes following hot sectors more than working on company projects. It recently announced an NFT platform, and just before that made a cryptocurrency deal.

I’d guess its fundamentals aren’t so hot, but YVR definitely knows how to spike interest and traders’ attention.

Keep a close watch on this stock and be ready for more hot sector news.

Most Active Penny Stocks: The Bottom Line

most active penny stocks the bottom line
© Millionaire Media, LLC

There’s so much opportunity in the most active penny stocks because of their insane volatility.

Learning how to navigate through volatility can be a game-changer. Apply for my Trading Challenge. I’ll do my best to help you speed your learning curve and find the trading styles that work for you in volatile markets. You just have to be willing to put in the work.

Use the active stocks above as a reference for learning trading patterns. Heavy volume can help you predict which direction a stock will go, but only if you’re prepared. So study up!

And remember to stay away from illiquid stocks. I don’t want you or anyone else to take a $500,000 loss like I did!

What do you think? What are the most active penny stocks on your watchlist? Let me know in the comments…

watchlist banner

Frequently Asked Questions About the Most Active Penny Stocks

What Are the Best Penny Stocks to Trade?

I think the best penny stocks to trade are the biggest daily gainers with high volume. These stocks tend to give the best opportunities and risk/reward.

What Are the Most Popular Penny Stocks?

Those in hot sectors. Hot sectors are always changing. That’s why it’s so important to stay current in the markets. No one knows what the next hot sector will be or when it will pop up. Do your research and prepare.

What Is the Most Successful Penny Stock Ever?

This is a tough one. I’ve seen tons of penny stocks skyrocket in my 20+ years of trading. I think I’ve gotta go with Apple (NASDAQ: AAPL). It was trading for under $1 in 2003, and now it’s a tech giant. But remember that most penny stocks fail. Don’t believe in these companies!

Can You Get Rich Off Penny Stock Trading?

Yes! If you couldn’t, I wouldn’t have made $7.6 million in career earnings.

But know that it’s not easy and there are no guarantees. You have to work hard — but to me, the reward is worth it.

How much has this post helped you?

Leave a reply

Author card Timothy Sykes picture

Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”