S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
5 Under-the-Radar Artificial Intelligence (AI) Stocks
Critical asset just had biggest fall on record (Ad)
How major US stock indexes fared Monday, 3/4/2024
Macy's, United Rentals rise; Apple, Spirit Airlines fall Monday, 3/4/2024
Critical asset just had biggest fall on record (Ad)
DeSantis names Disney World district administrator to run elections in Democratic Orange County
Stock market today: World markets are lower after China unveils 5% economic growth target for 2024
Critical asset just had biggest fall on record (Ad)
Ohio foundation begins process to distribute millions in opioid settlement money
Closing prices for crude oil, gold and other commodities
S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
5 Under-the-Radar Artificial Intelligence (AI) Stocks
Critical asset just had biggest fall on record (Ad)
How major US stock indexes fared Monday, 3/4/2024
Macy's, United Rentals rise; Apple, Spirit Airlines fall Monday, 3/4/2024
Critical asset just had biggest fall on record (Ad)
DeSantis names Disney World district administrator to run elections in Democratic Orange County
Stock market today: World markets are lower after China unveils 5% economic growth target for 2024
Critical asset just had biggest fall on record (Ad)
Ohio foundation begins process to distribute millions in opioid settlement money
Closing prices for crude oil, gold and other commodities
S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
5 Under-the-Radar Artificial Intelligence (AI) Stocks
Critical asset just had biggest fall on record (Ad)
How major US stock indexes fared Monday, 3/4/2024
Macy's, United Rentals rise; Apple, Spirit Airlines fall Monday, 3/4/2024
Critical asset just had biggest fall on record (Ad)
DeSantis names Disney World district administrator to run elections in Democratic Orange County
Stock market today: World markets are lower after China unveils 5% economic growth target for 2024
Critical asset just had biggest fall on record (Ad)
Ohio foundation begins process to distribute millions in opioid settlement money
Closing prices for crude oil, gold and other commodities
S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
5 Under-the-Radar Artificial Intelligence (AI) Stocks
Critical asset just had biggest fall on record (Ad)
How major US stock indexes fared Monday, 3/4/2024
Macy's, United Rentals rise; Apple, Spirit Airlines fall Monday, 3/4/2024
Critical asset just had biggest fall on record (Ad)
DeSantis names Disney World district administrator to run elections in Democratic Orange County
Stock market today: World markets are lower after China unveils 5% economic growth target for 2024
Critical asset just had biggest fall on record (Ad)
Ohio foundation begins process to distribute millions in opioid settlement money
Closing prices for crude oil, gold and other commodities

The most active penny stocks at Marketbeat.com 

Penny stocks to buy 2024

Key Points

  • Penny stocks offer ample opportunities for traders, both bullish and bearish. 
  • The most active penny stocks come with the most liquidity and often the largest price movements. 
  • These are the top five most active penny stocks ranked on the Marketbeat platform at the end of 2023. 
  • 5 stocks we like better than Fisker

Penny stocks can get the market’s attention, if nothing else. These speculative plays offer exponential returns for the strong-of-heart and provide ample opportunities for traders. Volatility is the name of the game with penny stocks; a few cents' of movement in either direction is easy on any given day and worth large percentages for traders. Notably, the top five are centered in three of the most emotionally charged markets, so they will provide ample catalysts for price movement. 

Today, we’re looking at the most actively traded penny stocks on Marketbeat. The basis for “most active” is the average daily volume. These stocks have the highest average daily volume of any penny stock at the end of 2023. The lowest is 20 million shares daily, the highest over 40, with the dollar volume running from about $14  million to about $175. Regarding market caps, four are small, and only one is a micro. 

Higher Bitcoin prices are great news for BTC miners

Bitfarms NASDAQ: BITF and TeraWulf NASDAQ: WULF are the #1 and #5 most active penny stocks at the end of 2023, respectively. They’ve both seen a tremendous spike in volume coincident with the rise in Bitcoin (Cryptocurrency: BTC) pricing that has both stocks advancing. Bitfarms is the larger and more stable of the two, as shown in the pricing and price action. The stock carries a higher price tag, and the market capitalization is almost double. 

Regarding the daily volume, Bitfarms is trading with an average volume of 40 million while TeraWulf is about half that, but recent volume spikes are far greater. The 5-day averages are closer to 200 million and 140 million, and the high volume may persist. The outlook for BTC has gotten much brighter due to legal rulings and an expected ruling on BTC ETFs due next month. The caveat is that whispers suggest the ruling will be a sell-the-news event and could cause the cryptocurrency to correct 10% to 20%. 

The price action in Bitfarms is leading the crypto-miners higher. It has advanced to a near-two-year high while TeraWulf remains range-bound. If TeraWulf follows Bitfarms higher, it could advance more than 100% from its current levels. Shares of Bitfarms may also double from their current levels if the BTC market follows through on the current signal, which is a bullish flag pattern. 

BTIF stock chart

Tilray is a most active penny stock, but maybe not a good buy

Tilray NASDAQ: TLRY is the third most active penny stock but for differing reasons. This stock and market remain in a downtrend due to weakness in Canada, persistent oversupply in Canada and the US and lack of direction with US federal legalization. While the recent volume has picked up, it shouldn’t be taken for a bullish sign. Average volume has been steady over the last year or so and not at levels sufficient to reverse the downtrend. 

The technical risk in TLRY is tilted heavily to the downside. The stock is in a downtrend and recently set new historical lows. The upswing in prices today is heading back to retest resistance at the previous all-time low, which is likely to be strong. If TLRY cannot get above $2.60 and hold it, it will likely set a new all-time low in 2024. 

Tilray Stock chart

Penny traders bet big on EV OEMs Fisker and Canoo

The volume on Fisker NYSE: FSR and Canoo NYSE: GOEV picked up over the last month or so of the year as the stocks hit all-time lows. The usual suspects drive the downtrends, including production ramp issues and lack of revenue success. The caveats are that Canoo has entered its revenue-generating phase and entered a new period for the business. It may sustain operations with minimal new financing and meet market forecasts. On the other hand, Fisker is ramping up its delivery capabilities, so it may exceed forecasts tamed in the last earnings report. The bottom line is that these transportation stocks look weak and have high short interest to weigh them down: 40% for FSR and 20% for GOEV. 

Fisker Stock chart

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Should you invest $1,000 in Fisker right now?

Before you consider Fisker, 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 Fisker wasn't on the list.

While Fisker currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

13 Stocks Institutional Investors Won't Stop Buying Cover

Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Tilray (TLRY)
2.2625 of 5 stars
$1.70-1.7%N/A-0.77Hold$2.83
Bitfarms (BITF)
2.356 of 5 stars
$2.63-10.2%N/A-10.12Buy$4.00
TeraWulf (WULF)
2.7842 of 5 stars
$1.91-6.8%N/AN/ABuy$3.65
Canoo (GOEV)
2.3438 of 5 stars
$0.10-8.4%N/A-0.12Buy$2.33
Fisker (FSR)
1.7957 of 5 stars
$0.43-9.9%N/A-0.20Reduce$2.76
Compare These Stocks  Add These Stocks to My Watchlist 

Thomas Hughes

About Thomas Hughes

  • tmhughes.writeon@gmail.com

Contributing Author

Technical and Fundamental Analysis

Experience

Thomas Hughes has been a contributing writer for MarketBeat since 2019.

Areas of Expertise

Technical analysis, the S&P 500; retail, consumer, consumer staples, dividends, high-yield, small caps, technology, economic data, oil, cryptocurrencies

Education

Associate of Arts in Culinary Technology

Past Experience

Market watcher, trader and investor for numerous websites. Founded Passive Market Intelligence LLC to provide market research insights. 


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