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Top 7 Most Active Penny Stocks of 2023

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Written by Timothy Sykes
Updated 6/4/2021 17 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?

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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?

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.

GameStop Corp. (NYSE: GME)

You’ve heard about this one. GME’s business has been fading as video games move online. That didn’t stop the retail traders from pumping up this stock.

Look at the six-month chart…

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

Remember GME’s insane spike in late January? Look at the volume that came with that move.

A massive wave of volume came in right as the stock started spiking. The high volume continued for a few weeks, and the stock was super volatile because of it. A lot of traders saw that volume as an indicator that the stock had momentum — some were rewarded for it.

Riot Blockchain (NASDAQ: RIOT)

RIOT focuses on mining cryptocurrency. It generally follows the same trends as Bitcoin (BTC). Check out the six-month chart…

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

This has been one of the most active stocks in 2021. There’s hardly been a day that it traded fewer than 20 million shares. And that’s saying a lot at these prices.

Nearly half of February was filled with green day after green day, and volume kept increasing. This is the type of trend to look for with active stocks.

Even if you don’t trade more expensive stocks like RIOT or GME, you can find lower-priced sympathy plays that follow the same trends.

Don’t slack on studying higher-priced stocks. If you know what’s hot in high-priced land, you’ll be better prepared for the biggest movers at the lower end of the market.

Most Active Penny Stocks Under $5

Now for some of the most active penny stocks…

Most Active Penny Stocks #1: Sundial Growers (NASDAQ: SNDL)

SNDL produces and distributes medical and recreational marijuana. Cannabis has been a hot topic this year, with talk that nationwide legalization could be coming soon.

Here’s the six-month chart…

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

Legalization predictions brought buyers to SNDL. The biggest wave came in February.

Prepared traders saw the heavy volume. Even if they only got a tiny piece of the move, it was well worth their time.

Most Active Penny Stocks #2: Castor Maritime (NASDAQ: CTRM)

CTRM ships dry bulk cargoes worldwide. The company’s been buying new vessels to grow its fleet.

Traders don’t think this is the hottest sector right now, but CTRM’s volume says otherwise. Take a look…

CTRM YTD, 1-day candles
CTRM chart: YTD, 1-day candles (source: StocksToTrade)

CTRM has traded over 200 million shares multiple times this year. That’s the definition of an active stock.

Most Active Penny Stocks #3: Tonix Pharmaceuticals (NASDAQ: TNXP)

TNXP develops drugs for disorders that affect the central nervous system.

The cold, hard truth about the market for pharmaceutical stocks is this: the scarier the disorder, the greater the chance that positive news will move the stock. That’s proven true for TNXP. And there’s no shortage of traders in this stock because of it. Check out this volume…

TNXP 1-year, 1-day
TNXP chart: 1-year, 1-day candles (source: StocksToTrade)

This stock’s had multiple surges over the past year. Whenever the company announces a positive development, the volume spikes and the stock shoots up. Over time, the stock falls back to the support level near 50 cents.

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.

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 be here.* 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.

Most Active Penny Stocks: The Bottom Line

most active penny stocks the bottom line
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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…


*Please note that these kinds of trading results are not typical and do not reflect the experience of the majority of individuals using our products. From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit. This figure is taken from tracking user accounts on Profit.ly, a trading community platform. It takes years of dedication, hard work, and discipline to learn how to trade. Individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.

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Henry MurrayJul. 01, 2021 at 3:33 pm

Knowledge supports growth & development.

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

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* 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 (205) 851-0506 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”