$MAXN is probably my favorite penny stock idea in a long time.
This objectively checks multiple conviction-worthy boxes for me:
✅ Sub .30 Solar company:
There have been exactly 0 solar stocks to go sub .30 in 2024 that have not multi-100% runs off their 52 WL.
$SING 611%
$ASTI 278%
$ISUN 203%
$PEGY 920%
$OPTT 458%
Many of these had individual catalysts some of which had nothing to do with solar but algorithmic tailwinds probably offer some explanation as well. It's at least worth noting that many look towards solar to power demanding AI data centers; a more small business-friendly service than say chips.
✅ Dilutive bottom breakout volume chart:
Multiple dilutive/unprofitable companies have seen almost supernatural type breakout volume at extreme lows as retail seems to literally buy out convertibles and dilution before massive upside moves.
$CRKN $FFIE $KITT $CRKN are a few recent ones that come to mind although I'm sure there are others.
✅ large sub .50 short interest on fairly accurate finviz float... lots of finviz short interest plays show 50%+ short interest; it's not all that uncommon. But it's far rarer to see that type of short interest on a float that is also similar on Finviz to other more up-to-date databases like Dilution Tracker. In terms of something this low in price range, I can't remember one since $FFIE.
These are 3 rock solid patterns I look for and rely on in 2024 market conditions. There's lots of other cool stuff about the company (like revenues, employee count, institutional/insider ownership, cash/share) but I don't necessarily believe it's AS relevant besides selling yourself the dream hard enough to buy large and hold long.