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12 Best Day Trading Stocks To Buy

In this article, we discuss the 12 best day trading stocks to buy. If you want to read about some more day trading stocks, go directly to 5 Best Day Trading Stocks To Buy.

Over the past few years, the rise of a new generation of stock traders that like to engage in risky bets, coupled with the advent of stock trading mobile applications, has given increased popularity to an otherwise forgotten market phenomenon known as day trading. Day trading refers to buying and selling shares of risky companies multiple times over the course of the business day in order to exploit the volatility and gain maximum advantage from the asset. Although day trading was previously an institution-only domain, it has become more popular and profitable for retail traders of the present. 

The two primary factors that investors should be wary of before they start day trading are liquidity and volatility of stocks. The former refers to how quickly an asset can be bought or sold, and the latter refers to the short-term fluctuation in the share price. Even if a stock is highly liquid, it does not necessarily mean that it is also highly volatile. 

Day trading is not easy. Research suggests that investors that have a large difference between existing economic conditions personally and aspiration levels publicly hold riskier stocks in their portfolios. This explains why the younger generation of stock pickers is more inclined to engage in day trading than some of their older peers. However, there are also other reasons for this. According to a study by researchers at the University of California, 80% of day traders quit within the first two years. Amongst day traders, nearly 40% only trade for a month. After three years, only 13% remain active. By five years, this number falls down to seven. 

This implies that the legendary stock traders of the present day were also day traders once. Day trading can be a fine entry-point into the stock market for the novice investor eager to learn more about the interconnection between fundamentals and news, and how they affect the share price of a company. Even though internet scams have forced many retail investors away from day trading, there are several day traders who are still able to make a successful and above-average living from engaging in this practice. 

Our Methodology

The companies that have high liquidity, measured through trading volumes, and high volatility, measured through share price fluctuation in the past four weeks, were selected for the list. In order to provide readers with some context for their investment choices, the business fundamentals and analyst ratings for the stocks are also discussed. Data from around 900 elite hedge funds tracked by Insider Monkey in the second quarter of 2023 was used to identify the number of hedge funds that hold stakes in each firm.

A portfolio manager pouring over data monitoring stocks on a large wall of monitors.

Best Day Trading Stocks To Buy

12. Spectral AI, Inc. (NASDAQ:MDAI)

Number of Hedge Fund Holders: N/A

Average Trading Volume as of November 2: 2.23 Million

Share Price Gain in Past Month: 23%      

Spectral AI, Inc. (NASDAQ:MDAI) operates as an artificial intelligence company. The firm aims to specialize in medical diagnostics for faster and accurate treatment decisions in wound care. The applications involve patients with burns and diabetic foot ulcers. Some of the products it markets include DeepView, a predictive diagnostic device that offers clinicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention, as well as other AI tools. 

In late October, Spectral AI, Inc. (NASDAQ:MDAI) announced that it expected the research and development revenue in 2024 to be around $28 million. For 2023, the firm forecast R&D revenue to be $17 million, down from a previous estimate of $25 million. 

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Meteora Capital is a leading shareholder in Spectral AI, Inc. (NASDAQ:MDAI) with 15,566 shares worth more than $164,000.  

Unlike Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:FB), Spectral AI, Inc. (NASDAQ:MDAI) is one of the more volatile stocks on the market. 

11. MMTec, Inc. (NASDAQ:MTC)

Number of Hedge Fund Holders: N/A  

Average Trading Volume as of November 2: 2.8 Million

Share Price Gain in Past Month: 119%  

MMTec, Inc. (NASDAQ:MTC) develops and deploys platforms that enable financial institutions to engage in securities market transactions and settlements worldwide. Some of the products include Securities Dealers Trading System, Private Fund Investment Management System, as well as Mobile Transaction Individual Client System and PC Client System. The business serves several high-value hedge funds, mutual funds, registered investment advisors, proprietary trading groups, and brokerage firms, playing key roles in account management, risk management, and trading and execution.

MMTec, Inc. (NASDAQ:MTC) is based in Hong Kong and aims to provide brokers in the United States with a one-stop financial solution. The firm is set to hold the annual meeting of shareholders in the second week of November. 

10. Outlook Therapeutics, Inc. (NASDAQ:OTLK)

Number of Hedge Fund Holders: 2     

Average Trading Volume as of November 2: 10.5 Million

Share Price Gain in Past Month: 187%   

Outlook Therapeutics, Inc. (NASDAQ:OTLK) is a biotech firm focusing on the development of monoclonal antibodies for various ophthalmic indications. On November 2, the company announced that it had reached an agreement with drug authorities in the United States on a clinical trial design for ONS-5010, an ophthalmic formulation of the drug bevacizumab. The agreement would allow for a resubmission of the Biologics License Application as early as the end of 2024, with potential approval around mid-2025.

Outlook Therapeutics, Inc. (NASDAQ:OTLK) was founded in 2010 and is based in New Jersey. It has collaboration and license agreements with IPCA Laboratories Limited, Laboratorios Liomont, BioLexis, and Zhejiang Huahai Pharmaceutical, among others. 

At the end of the second quarter of 2023, 2 hedge funds in the database of Insider Monkey held stakes worth $438,000 in Outlook Therapeutics, Inc. (NASDAQ:OTLK), compared to 4 in the previous quarter worth $218,000.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in Outlook Therapeutics, Inc. (NASDAQ:OTLK) with 143,733 shares worth more than $250,000. 

9. Matinas BioPharma Holdings, Inc. (NYSE:MTNB)

Number of Hedge Fund Holders: 3 

Average Trading Volume as of November 2: 17.5 Million

Share Price Gain in Past Month: 60%   

Matinas BioPharma Holdings, Inc. (NYSE:MTNB) is a clinical-stage biopharmaceutical company. It develops products using lipid nanocrystal (LNC) platform technology. The LNC delivery technology platform utilizes lipid nano-crystals for the delivery of small molecules, nucleic acids, gene therapies, vaccines, proteins, and peptides. One of the leading product candidates for the firm is LYPDISO, a prescription-only omega-3 fatty acid-based composition intended for the treatment of cardiovascular and metabolic conditions. 

Matinas BioPharma Holdings, Inc. (NYSE:MTNB) stock has soared since mid-October after the firm announced positive results for a patient dosed with MAT2203, an oral formulation of the antifungal agent amphotericin B. The firm said it was looking to advance MAT2203 into Phase 3 testing as a treatment for invasive aspergillosis, a type of fungal infection.

Among the hedge funds being tracked by Insider Monkey, New York-based Millennium Management is a leading shareholder in Matinas BioPharma Holdings, Inc. (NYSE:MTNB) with 17,777 shares worth more than $6,000. 

At the end of the second quarter of 2023, 3 hedge funds in the database of Insider Monkey held stakes worth $337,000 in Matinas BioPharma Holdings, Inc. (NYSE:MTNB), the same as in the previous quarter worth $237,000.

8. Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP)

Number of Hedge Fund Holders: 3   

Average Trading Volume as of November 2: 1.39 Million

Share Price Gain in Past Month: 259%  

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) is a clinical stage biopharmaceutical company that develops antibiotics to treat bacterial infections. One of the leading product candidates for the firm is ibezapolstat, a mechanism of action that targets the polymerase IIIC enzyme that has completed Phase IIa clinical trial to treat patients with clostridium difficile infections. Another potential candidate is ACX-375C, an oral and parenteral treatment targeting gram-positive bacteria, including methicillin-resistant staphylococcus aureus, vancomycin-resistant enterococcus, and penicillin-resistant streptococcus pneumonia. 

In mid-August, investment advisory HC Wainwright maintained a Buy rating on Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) stock and lowered the price target to $13 from $14, citing dilution for the target drop post the Q2 results.

At the end of the second quarter of 2023, 3 hedge funds in the database of Insider Monkey held stakes worth $3,212,000 in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP), compared to 2 in the previous quarter worth $969,000.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Armistice Capital is a leading shareholder in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) with 1.1 million shares worth more than $3 million. 

7. CEL-SCI Corporation (NYSE:CVM)

Number of Hedge Fund Holders: 3

Average Trading Volume as of November 2: 1.85 Million

Share Price Gain in Past Month: 43%        

CEL-SCI Corporation (NYSE:CVM) is a clinical-stage biotechnology company that engages in the research, development, and manufacturing of immune systems for the treatment of cancer and other diseases. One of the leading projects of the firm is Multikine, a Leukocyte Interleukin injection for patients who are diagnosed with locally advanced primary squamous cell carcinoma of the head and neck. The firm is also developing Ligand Epitope Antigen Presentation System (LEAPS) technology, a patented T-cell modulation process that stimulates the human immune system to fight bacterial, viral, parasitic infections, autoimmune conditions, allergies, transplantation rejections, and cancer. 

In late October, CEL-SCI Corporation (NYSE:CVM) announced Phase 3 data for its lead candidate, Multikine, saying that 73% of Multikine-treated patients versus 45% in a control group remained alive over five years in the trial, indicating 50% cut in mortality risk.

At the end of the second quarter of 2023, 3 hedge funds in the database of Insider Monkey held stakes worth $348,000 in CEL-SCI Corporation (NYSE:CVM), compared to 2 in the previous quarter worth $77,000.

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Citadel Investment Group is a leading shareholder in CEL-SCI Corporation (NYSE:CVM) with 347,100 shares worth more than $836,000. 

6. ImmunityBio, Inc. (NASDAQ:IBRX)

Number of Hedge Fund Holders: 4

Average Trading Volume as of November 2: 6.1 Million

Share Price Gain in Past Month: 112%     

ImmunityBio, Inc. (NASDAQ:IBRX) is a clinical-stage biotechnology company that engages in developing therapies and vaccines that complement, harness, and amplify the immune system to defeat cancers and infectious diseases. The stock has gained in recent weeks after drug authorities in the United States accepted a resubmitted Biologics License Application for bladder cancer therapy Anktiva by the biotech firm. Patrick Soon-Shiong, the Global Chief Scientific and Medical Officer of the firm, said the firm would work closely with FDA to close the review in a timely manner. 

ImmunityBio, Inc. (NASDAQ:BRX) has collaboration and licensing agreements with National Cancer Institute, Amyris, LadRx Corporation, GlobeImmune, Access to Advanced Health Institute, 3M Innovative Properties Company, and Sanford Health. 

At the end of the second quarter of 2023, 4 hedge funds in the database of Insider Monkey held stakes worth $959,000 in ImmunityBio, Inc. (NASDAQ:IBRX), compared to 14 the preceding quarter worth $14 million.

In contrast to Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:FB), ImmunityBio, Inc. (NASDAQ:BRX) is one of the more volatile stocks on the market. 

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Disclosure. None. 12 Best Day Trading Stocks To Buy is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

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