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Top Penny Stocks To Add to Your Watchlist - December 18th

Direxion Daily TSLA Bear 1X Shares logo with background
Image from MarketBeat Media, LLC.

Key Points

  • MarketBeat's screener highlighted seven penny stocks to watch: TSLS (Direxion Daily TSLA Bear 1X Shares), CGC (Canopy Growth), PAVS (Paranovus Entertainment Technology), RZLV (Rezolve AI), BITF (Bitfarms), UGRO (urban-gro), and BTBT (Bit Digital).
  • The ETF TSLS offers inverse (-1x) daily exposure to Tesla shares and was launched by Direxion on Aug 9, 2022, so it is a short-direction trading vehicle rather than a direct investment in Tesla.
  • The article cautions that penny stocks are highly speculative—they usually trade under $5 with low liquidity, wide bid–ask spreads and high volatility—and these seven names had the highest dollar trading volume among penny stocks in recent days.
  • MarketBeat previews top five stocks to own in June.

Direxion Daily TSLA Bear 1X Shares, Canopy Growth, Paranovus Entertainment Technology, Rezolve AI, Bitfarms, urban-gro, and Bit Digital are the seven Penny stocks to watch today, according to MarketBeat's stock screener tool. Penny stocks are low-priced shares of small companies—typically trading for less than $5 per share under the SEC definition—often quoted on over-the-counter markets or smaller exchanges. They generally have low liquidity, wide bid–ask spreads and high volatility, making them highly speculative and prone to price manipulation and significant losses. These companies had the highest dollar trading volume of any Penny stocks within the last several days.

Direxion Daily TSLA Bear 1X Shares (TSLS)

The Direxion Daily TSLA Bear 1X Shares (TSLS) is an exchange-traded fund that is based on the Tesla, Inc. index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLS was launched on Aug 9, 2022 and is managed by Direxion.

Read Our Latest Research Report on TSLS

Canopy Growth (CGC)

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.

Read Our Latest Research Report on CGC

Paranovus Entertainment Technology (PAVS)

Paranovus Entertainment Technology Ltd. engages in the research, development, manufacture, and sale of nutraceutical and dietary supplement products in the People's Republic of China and internationally. The company's product category includes lucidum spore powders, cordyceps mycelia, Ejiao products, American ginseng products, other traditional Chinese herbal and animal extracts, vitamins, minerals, and amino acids.

Read Our Latest Research Report on PAVS

Rezolve AI (RZLV)

Rezolve AI Plc operates in the mobile commerce industry with its cutting-edge engagement platform powered by artificial intelligence and machine learning. It develops AI-based mobile commerce and engagement solutions, simplifying the purchasing process by providing relevant information and facilitating seamless transactions with a single tap.

Read Our Latest Research Report on RZLV

Bitfarms (BITF)

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.

Read Our Latest Research Report on BITF

urban-gro (UGRO)

urban-gro, Inc. engages in the designing, engineering, building, and integrating complex environmental equipment systems for indoor controlled environment agriculture (CEA) cultivation and retail facilities in the United States, Canada, and Europe. The company provides architectural design, engineering, and construction services comprising pre-construction, cultivation space programming (CSP), architectural and interior design, engineering, integrated cultivation design, owner's representative/construction management, and general contracting services; and maintenance, training, and support services.

Read Our Latest Research Report on UGRO

Bit Digital (BTBT)

Bit Digital, Inc., together with its subsidiaries, engages in the bitcoin mining business. It is also involved in the treasury management activities; and digital asset staking and digital asset mining businesses, as well as ethereum staking activities. In addition, it provides specialized cloud-infrastructure services for artificial intelligence applications.

Read Our Latest Research Report on BTBT

See Also

Should You Invest $1,000 in Direxion Daily TSLA Bear 1X Shares Right Now?

Before you consider Direxion Daily TSLA Bear 1X Shares, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Direxion Daily TSLA Bear 1X Shares wasn't on the list.

While Direxion Daily TSLA Bear 1X Shares currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

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