Penny Stocks on the Move: Today’s Top Gainers and Biggest Decliners

On May 19, 2025, the penny stock market witnessed significant movements, with Mullen Automotive, Inc. leading the surge with a remarkable 100% increase in its stock price, making it the top gainer of the day. Conversely, Damon Inc. experienced the most substantial decline, with its stock plummeting by 75%, marking the largest drop among penny stocks.

Top Gainers
Mullen Automotive, Inc. (MULN)
Mullen Automotive, Inc., an electric vehicle manufacturer, experienced a remarkable 100% surge in its stock price today, ranking first among penny stocks. The stock reached an intraday high of $0.489 before closing at $0.34. Reports indicate that on May 17, 2025, Mullen resolved a legal dispute with GEM Yield, granting GEM a 55-day period to evaluate asset transfers, contributing to today's stock surge. Additionally, analysts say the company's planned reverse stock split has attracted investor interest, further influencing market activity.

Digiasia Corp. (FAAS)
Digiasia Corp., a Fintech-as-a-Service provider, saw its stock surge by 83.00% today, ranking second in the penny stock market. Trading hit an intraday high of $0.649 before closing at $0.355. Reports indicate that on May 19, 2025, Digiasia's strategic decision to allocate up to 50% of its future profits to cryptocurrency holdings, including Bitcoin, has fueled investor enthusiasm, contributing to the stock's significant rise.

Armata Pharmaceuticals, Inc. (ARMP)
Armata Pharmaceuticals, Inc., a clinical-stage biotechnology company, saw its stock skyrocket by 78.89% today, ranking third among penny stocks. The stock hit an intraday high of $2.69 before closing at $2.42. Reports indicate that Armata Pharmaceuticals announced positive topline results from its Phase 1b/2a diSArm study on May 19, 2025, which contributed to the surge, along with securing $14.7 million in funding, highlighting promising advancements in treatment development.

Siyata Mobile Inc. (SYTA)
Siyata Mobile Inc., a player in the radio telephone communications industry, saw a remarkable 76.19% surge in its stock today, ranking fourth among penny stocks. The stock reached an intraday high of $4.2, closing at $4.07. Recent reports indicate that Siyata Mobile plans a significant manufacturing shift to the U.S., announced on May 16, 2025. Additionally, analysts say Siyata's financial results for Q1 2025, reported on May 15, 2025, contributed positively to its market sentiment.

Tango Therapeutics Inc. (TNGX)
Tango Therapeutics Inc., a clinical-stage biotechnology company, saw its stock soar by 52.67% today, ranking fifth in the day's penny stock market. The stock reached an intraday high of $2.66 before closing at $2.29. Recent reports indicate that as of May 12, 2025, Tango Therapeutics reported a solid cash position of $217 million, extending its financial runway into early 2027, and highlighted preclinical data advancements, contributing to today's stock surge.

Top Decliners
Damon Inc. (DMN)
Damon Inc., a company in the automobile industry, experienced a dramatic stock plummet today, with shares dropping 75% to an intraday low and closing at $0.002, ranking first in the penny stock market decline. Recent developments have exacerbated the company's woes. On May 19, 2025, reports indicate that Damon Inc. faced Nasdaq delisting risks over low share prices. Additionally, on May 16, 2025, analysts say trading resumed following a period of uncertainty, but the company's financial struggles persist.

Zapp Electric Vehicles Group Ltd (ZAPP)
Zapp Electric Vehicles Group Ltd, a prominent player in the automotive industry, experienced a startling plunge in its stock value today, with a decrease of 46.18%, placing it second in today's penny stock market rankings. The company's intraday low was recorded at 0.14, closing at 0.155. This downturn coincides with recent reports indicating Zapp's non-compliance with listing rules, leading to a delisting from Nasdaq, as announced on May 15, 2025. Additionally, analysts say the cancellation of the annual meeting, reported on May 15, 2025, has further impacted investor sentiment.

Affimed N.V. (AFMD)
Affimed N.V. saw a significant decline in its stock price today, dropping by 34.77% and ranking third in today's penny stock market declines. The company's stock hit an intraday low of $0.172 before closing at $0.182. As a clinical-stage immuno-oncology company operating in the pharmaceutical industry, Affimed's recent challenges have been compounded by troubling news. Reports indicate that on May 14, 2025, Affimed received a Nasdaq delisting notice, and on May 13, it filed for insolvency proceedings, contributing to today's drastic stock plunge.

Autozi Internet Technology (Global) Ltd. (AZI)
Autozi Internet Technology (Global) Ltd. (AZI) experienced a significant decline in its stock value, dropping 26.80% today, making it the fourth largest decline in the penny stock market. The stock's intraday low was $0.73, closing slightly higher at $0.754. Operating in the specialty retail industry, Autozi provides automotive products and services in China. Recent reports indicate Autozi announced a fiscal year loss of $74.47 million, a 245.1% increase from 2023, and received a Nasdaq notification on March 25, 2025, for non-compliance with market value requirements, which may have contributed to today's stock plunge.

Applied Therapeutics, Inc. (APLT)
Today, shares of Applied Therapeutics, Inc., a clinical-stage biopharmaceutical company in the pharmaceutical industry, plummeted by 24.38%, ranking fifth in the penny stock market's largest declines. The stock closed at $0.456 after hitting an intraday low of $0.45. Recent reports indicate that Applied Therapeutics has received a Complete Response Letter from the FDA regarding its NDA for govorestat for Classic Galactosemia, raising concerns about regulatory hurdles. Additionally, analysts say the company's ongoing govorestat development program for the treatment of CMT-SORD Deficiency is facing potential delays, contributing to today's stock plunge.