Today's highest relative volume stocks (Market Close: May 24, 2024)

By Jeffrey Cohen, US Advanced Computing Infrastructure, Inc.

Today, we highlight a few stocks that had 10x or more of typical volume on May 24.

Why? These stocks were aggressively traded on Friday, and we expected them to be aggressively traded today (Tuesday, after a Monday holiday).

Stocks with the highest relative volume on May 24, 2024.
   1 LUCY   23374.9% Innovative Eyewear Inc                            
   2 NCPL   12439.2% Netcapital Inc                                    
   3 VSTM   7418.7% Verastem Inc                                      
   4 HLTH   6909.0% Cue Health Inc                                    
   5 SNPO   3652.1% Snap One Holdings Corp                            
   6 ONCO   2382.5% Onconetix Inc                                     
   7 SMX    2170.9% SMX (Security Matters) Plc                        
   8 GNLX   2147.5% Genelux Corp                                      
   9 KRMD   1736.0% KORU Medical Systems Inc                          
  10 KITT   1725.5% Nauticus Robotics Inc                             
  11 CNSP   1648.2% Cns Pharmaceuticals Inc                           
  12 MRUS   1461.7% Merus N.V                                         
  13 OPTT   1391.5% Ocean Power Technologies                          
  14 MBIO   1351.1% Mustang Bio Inc                                   
  15 SCPX   973.6% Scorpius Holdings Inc.                            
  16 TOVX   850.1% Theriva Biologics Inc                             
  17 WDAY   793.6% Workday Inc                                       
  18 KRON   661.5% Kronos Bio Inc                                    
  19 LIDR   658.2% AEye Inc                                          
  20 LILM   646.1% Lilium N.V                                        
  21 BCAB   643.5% BioAtla Inc                                       
  22 SLF    607.4% Sun Life Financial  Inc.                          
  23 AMPL   561.2% Amplitude Inc                                     
  24 BNED   540.3% Barnes & Noble Education Inc    

So, what happened today on Tuesday to stocks with 10x relative volume?

​Without looking, I know a few of these went crazy, with a few of them crashing lower.

​

The first note is that these stocks are typically very small capitalization names. They can be pumped, dumped, and massively impacted with relatively small volume...but with significant volume the sky (price up), or ground (price down), is the limit.

The second note is that these stocks were generally lower, with a few much lower. My guess or intuition (not advice) is that these stocks are being driven lower to allow for a Wednesday or Thursday pump higher, then another drive lower.

Some stocks are missing from our list based on intuition, which could be that they failed the data validation test in our quant run.