AI "Penny" Stocks Show Volatility - Down 20% So Far In August
TM Editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.
Photo by Brett Jordan on Unsplash
If you are looking to invest in lesser-value artificial intelligence and intelligence-related (AI&R), albeit very volatile, stocks consider one or more of the 12 highlighted in this article. None are being recommended, per se but, rather, are highlighted as possible opportunities to profit from the speculative frenzy in AI&R stocks. Access the stock symbols provided to do your own research.
Incidentally, a penny stock no longer refers to a stock trading for less than $1/share but, rather, it refers to the stock of a company that trades for less than $5 per share. Penny stocks are usually considered high-risk investments due to their low price, lack of liquidity, small market capitalization, and wide bid-ask spread. Most penny stocks trade via over-the-counter transactions hence a cautionary note from TalkMarkets that "penny and/or micro-cap stocks...are easily manipulated; do your own careful due diligence".
The list below is of 12 "penny" stocks that are trading for less than $5.00/share and also have market capitalizations of at least $80M along with their latest earnings per share, if positive, their short interest percentage, and their stock returns MTD (as of August 18th), in descending order:
- Rekor Systems (REKR): UP 20.8% MTD
- Latest earnings/share: Negative
- Short Interest: 6.5%
- SoundHound AI (SOUN): DOWN 10.4%
- Latest earnings/share: Negative
- Short Interest: 10.4%
- Knightscope (KSCP): DOWN 16.6%
- Latest earnings/share: Negative
- Short Interest: 8.3%
- Rigetti Computing (RGTI): DOWN 17.3%
- Latest earnings/share: Negative
- Short Interest: 8.2%
- Quantum Computing (QUBT): DOWN 18.3%
- Latest earnings/share: Negative
- Short Interest: 4.7%
- Presto Automation (PRST): DOWN 18.8%
- Latest earnings/share: Negative
- Short Interest: 1.0%
- GSI Technology (GSIT): DOWN 19.6%
- Latest earnings/share: Negative
- Short Interest: 6.5%
- Butterfly Networks (BFLY): DOWN 24.3%
- Latest earnings/share: Negative
- Short Interest: 16.0% - A high short interest signals that investors have become more bearish and that it may be time to liquidate a long position.
- Verses AI (VRSSF): DOWN 27.6%
- Latest earnings/share: Negative
- Short Interest: NA
- Veritone (VERI): DOWN 30.6%
- Latest earnings/share: Negative
- Short Interest: 11.4%
- D-Wave Quantum (QBTS): DOWN 34.8%
- Latest earnings/share: Negative
- Short Interest: 3.2%
- Innoviz Technologies (INVZ): DOWN 37.0%
- Latest earnings/share: Negative
- Short interest: 7.0%
Summary
The average market capitalization of the above 12 stocks is $222M with an average stock price of $2.15. They were UP 66.7%, on average, during the initial frenzied run-up in prices from the end of April until the end of July but have declined 20.0%, on average, since then.
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Disclosure: None
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