Most Volatile Stocks 2023

Last Updated on April 7, 2023 by George

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A day trader’s paradise is a volatile stock. Even in a single day, they offer a wide enough price range to bring in large profits. Day traders have room to enter and depart thanks to the extensive range of high and low figures. They may have time to reenter the market and still make money, even if they initially place a transaction in the wrong direction.

When a stock’s price range significantly exceeds the average price range for a specific period, the stock is said to be volatile. It is more practical to utilize percentages because some stocks are quoted at a few dollars while others are priced at hundreds.

The broad S&P 500’s 10-year average daily volatility is depicted in the chart below. As we can see, the volatility range is primarily between 1% up and 1% down. The price range of this index should increase or drop by 5% or less during any 5 days.

A comprehensive index will undoubtedly have lower volatility than a single stock. Nonetheless, utilizing the S&P 500 as benchmark aids in comprehending how various erratic equities may be at particular points.

Most Volatile Stocks in March 2023

Let’s look at some equities that have experienced a recent spike in volatility and are among the top movers of the past month. We’ll examine their most recent performance and what most likely contributed to the uptick or decline in these stocks.

Forge Global Holdings, Inc.

The company’s stock has soared 158.7% in the last 5 days. On March 22, the stock debuted its NYSE at an opening price of $11.06. After that, the stock surged to a day high of $26.90, representing a gain of 143.2%.

After becoming public, the company’s stock price has increased by 240.33%, hitting $37.64 at the time of writing.

The Special Purpose Acquisition Company (SPAC) FRGE was established to invest in private businesses through mergers and acquisitions. Following the acquisition, the business lists on a stock exchange, and this procedure avoids the pricey expenses and protracted timeline of an IPO.

Direct Digital Holdings, Inc.

Over the last 5 days, DRCT has increased by 135.21%. On March 30, the market opened at $4.70 and closed at $5.20, a significant difference from the previous day’s $2.51. The stock is up 200% month-over-month and 57.3% year-to-date.

A well-known provider of marketing and advertising technologies is Digital Direct Holdings. On March 30, the business released its annual profits report, and the report exceeded expectations by revealing that the company’s revenue increased significantly between 2020 and 2021.

Clever Leaves Holdings, Inc.

Over the last five days, this stock has gained by 96.3%; over the previous month, it has increased by 124.58%. Despite this, it has decreased by 17.5% since the year’s start.

Cannabis of the highest quality for use in medications is produced globally by Clever Leaves. On March 22, the business declared a partnership with InterCure (INCR: NASDAQ). Leading multinational medical cannabis company InterCure is based in Israel.

The deal will enable InterCure to utilize the high-THC medical cannabis flower from Clever Leaves. At the same time, Clever Leaves will grow InterCure’s premium strains to launch branded goods that comply with EU-GMP standards in the EU, UK, and South American markets.

On March 24, Clever Leaves published its Q4 and full-year 2021 earnings, which were well above expectations, to support the upswing further. The business announced a 25% increase in revenue for the fourth quarter of 2021 and a 27% increase in full-year profitability.

IGM Biosciences, Inc.

The company’s stock increased 120% on March 29 and 84.11% in the last five days. IGMS is down only 2% YTD and has almost reached levels recorded at the beginning of the year. At the same time, it has increased by 70% in the last month.

IGM Biosciences is a biotechnology business in the clinical stages, primarily focusing on developing IgM antibodies. A global partnership deal with Sanofi and its financial report for Q4 and FY 2021 were simultaneously disclosed on March 29. (SNY: NASDAQ).

IGM Biosciences will get a $150 million upfront payment, according to the agreement. In addition, IGMS might get an additional $6 billion if specific development, legal, and business objectives are met.

Although they were gloomy, the results announcement aligned with analyst expectations. Compared to Q4 2020, when net losses were $24.6 million, the corporation recorded net losses of $50.6 million for the fourth quarter of 2021. In contrast to $81.4 million in losses for FY 2020, net losses for FY 2021 totaled $165.2 million.

Allego N.V.

When the price of Allego surged on March 23 from a low of $9.28 to a high of $23.91, it saw a significant gain in price. That is a growth of 156.75% in just one trading session. The stock price has increased 74.5% in the last 5 days and 79.9% in the last month.

The rise appears to have been fuelled by a keen interest in social media platforms like Twitter and the stock market forum StockTwits.

The spike in social media activity coincided with the day Allego’s CEO declared his attendance at the JP Morgan Global ESG conference. On the panel for the electrification of Europe and the future of EV charging, specifically.

Hillstream BioPharma, Inc.

Over the last five days, the stock has increased by 40.97%. Since its IPO in January 2022, the company’s share price has declined. The stock has lost ground over the past month and is up 18%, compared to a YTD loss of 41.6%.

The stock price hit a record low on March 15 when it touched $1.15. Since then, it has been rising, with the most recent quote being $2.03. This amounts to a run of 76.5% over 11 trading sessions. On March 30, it increased the most and reached $2.75 before falling to $2.03.

A biotechnology business called HILS focuses on creating brand-new ferroptosis treatment options. The technique is a novel anti-cancer mechanism that causes deadly, drug-resistant cancer cells to die.

Oblong Inc.

Over the last five days, the price of Oblong has increased significantly, gaining 28.23%. The stock, however, is still working to recoup its all-time highs and has dropped 11.45% and 36.36%, respectively, during the past month and year.

Oblong is a multi-stream collaboration solution provider with a distinguished track record. It counts Ford, BlackRock, IBM, and Under Armour among its customers. According to highlights of the company’s results report, revenue grew 10% for 2021 compared to 2020, released on March 30.

Mullen Automotive, Inc.

This stock stands out due to its recent performance, a 205.8% increase. However, it is still down 47.8% YTD and 4.11% during the previous five days. On March 30, the stock rose 33.48 percent in a single day, from an opening price of $2.27 to a closing price of $3.03.

A southern California-based manufacturer of electric vehicles is called Mullen Automotive. By October 2024, the business hopes to have delivered its first Model 5 EVs. The automobiles have exceptional performance and are reasonably priced, starting at $55,000.

In an interview on March 30, Mullen Automotive CEO David Michery asserted that a significant Fortune 500 business would purchase its cargo vans. A few days before making this announcement, the business anticipated reporting a cash position of $65 million.

Akebia Therapeutics, Inc.

The price of Akebia equities has dropped by 66.77% during the last 5 days, with a loss of 63.2% occurring on March 30 alone. The decline occurred in after-hours trading when the stock price opened a gap from its close of $2.015 to the after-hours opening price of $0.882.

A biopharmaceutical business called AKBA deals with the side effects of renal illness. The business has medicines on the market, and it is requesting FDA approval for the Phase 3 clinical development of its new medication Vadadustat.

The FDA rejected the business’s request for Phase 3 approval, the company stated on March 30. The FDA claimed that the benefit-risk analysis was unfavorable due to safety worries about liver failure and thromboembolic events.

Revelation Biosciences, Inc.

The stock’s price has dropped by 35.29% over the last 5 days, a mere 5.04% over the past month, but a staggering 86.85% YTD. The price of REVB shares fell by 61.68% to $0.83 at the opening bell on March 30 from their previous close of $2.14.

A life sciences business in the clinical stages, Revelation Biosciences focuses on creating immunologic-based treatments. The medicines being tested are intended for both therapy and prevention.

The conclusion of a Phase 2b viral research of one of the company’s intranasal medicines to prevent H3N2 influenza was released on March 30. According to the trial trials, there was no discernible difference between the intranasal medication and the placebo.

Fast Radius, Inc.

This stock has lost 28.85 over the last month and is down 84.65% YTD. It has lost 35.73% over the last five days—March 30. There was a gap between the stock’s previous close of $2.24 and its opening price of $1.83.

Fast Radius, an additive manufacturing business, provides design, testing, and production-grade manufacturing. The company, which has offices in Chicago and Singapore, serves more than 4700 clients globally.

The business disclosed its Q4 and FY 2021 financial reports on March 30. According to the report’s highlights, the company suffered a net loss of $22.9 million in 2021 as opposed to a net loss of $5.0 million in 2020. Despite a 52% increase in income to $6.4 million from $4.2 million in 2020, losses increased significantly.

Calithera Biosciences, Inc.

The price of this stock has been down 25.13% over the previous five days, 21.97% over the previous month, and is down 42.64% year to date.

Calithera Biosciences, Inc. is a precision oncology biopharmaceutical business in the clinical stage. The business is creating a biomarker strategy to focus on genetic weaknesses in cancer cells. Patients receiving the therapy include those with solid tumor malignancies, with few other treatment options.

The public offering of 18,518,519 shares that the firm had previously underwritten was to be priced at $0.54 per share, the company stated on March 30. Two options to purchase one common share at the strike price of $0.54 are included with the shares; one option has an 18-month expiration date, and the other has a 5-year expiration date.

Final Thought- Most Volatile Stocks 2023

A comprehensive index fund is substantially less risky than individual stocks. If you own equities like the ones indicated above, consider whether your level of risk tolerance is strong enough to withstand the added volatility. Before making an investment decision, especially in a high-risk asset class, consult with a financial advisor.
Consider setting up a Self-Directed IRA to make individual stock investments through an IRA. Alternatively, you can like to invest in a hedge fund and delegate the task of stock selection to qualified managers. You can read more about top-rated Self-Directed IRA providers in our review. Several businesses offer specially developed services if you want to handle your investments yourself.

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