5 Best Day Trading Stocks to Buy for Q4 2024
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To day trade you need to find popular stocks that regularly fluctuate in price throughout the trading day. Our experts have been through the best stock options to pick out five top day trading stocks to help you get started.
What are the top day trading stocks to buy?
Copy link to sectionThese are the best stocks for day trading right now. Each of these has a lot of trading volume and changes in price regularly during the day. Read on to learn more about each one and why it makes our list.
| Rank | Stock symbol | Company name | Learn more |
|---|---|---|---|
| 1 | AMD | Advanced Micro Devices | Learn more > |
| 2 | ETSY | Etsy | Learn more > |
| 3 | TSLA | Tesla | Learn more > |
| 4 | AAPL | Apple | Learn more > |
| 5 | NOK | Nokia | Learn more > |
1. Advanced Micro Devices (NASDAQ:AMD)
Copy link to section- Market Cap: $272 billion
- Average Daily Volume: 20 million shares
- Forward P/E ratio: 46
- Dividend: N/A
AMD is a computer chip manufacturer that produces hardware like graphics cards for your computer. The company has been around since the late 1960s but has had its best years more recently, which has pushed its market cap to over $270 billion.
The company, which is led by Lisa Su, has become a major name in the semiconductor industry, where it is taking market share from Nvidia, the second-biggest firm in the world. It has also launched new GPUs as it seeks to take a market share from NVIDIA. It aims to become a leading provider of GPUs to companies in the artificial intelligence industry.
AMD is a great company to day trade for several reasons. It has a daily trading volume of over 20 million shares, making it highly liquid. Further, it is constantly making headlines, which leads to more volatility. Also, it reacts to news from other semiconductor companies like NVIDIA and Intel.
2. Etsy (NASDAQ: ETSY)
Copy link to section- Market Cap: $7.76 billion.
- Average Daily Volume: 1 million
- Forward P/E Ratio: 25
- Dividend: N/A
Etsy is an online marketplace where individuals can sell handmade or personalised goods. Formed in 2005, it has grown to be the online store for vintage and unique items online. It has attracted millions of sellers and buyers from around the world, pushing its total annual revenue to over $2.7 billion.
Etsy makes money in a number of ways. It takes a commission for all sales it handles on its platform. Also, the company charges sellers a small listing fee for all their products. Sellers can also pay a fee to advertise on its platform.
Much like with AMD, the stock has plenty of volatility. 5% swings in price in a single trading day are not uncommon, which makes for plenty of trading opportunities. The company is also constantly making headlines, which helps to boost its volatility.
3. Tesla (NASDAQ: TSLA)
Copy link to section- Market Cap: $556 billion.
- Average Daily Volume: 24 million
- Forward P/E: 59
- Dividend: N/A
Tesla Inc. is one of the biggest companies in the world with a market cap of over $556 billion and generates over $96 billion in annual sales. Owned by Elon Musk and founded in 2003, it makes electric vehicles and solar panels. It sells most of its vehicles in the United States, China, and in Europe.
Tesla’s shares have been in the spotlight amid concerns about the electric vehicle industry. Competition from companies like BYD, Rivian, and Nio has risen, pushing it to cut prices. There are concerns about the future of electric vehicles as the sector slows down.
Tesla is a great company to day traders because of its popularity in the investing community. It is always making headlines, which helps to boost its volatility, which explains why its daily trading volume has jumped to over 24 million.
4. Apple (NASDAQ: AAPL)
Copy link to section- Market Cap: $3 Trillion
- Average Daily Volume: 13.2 million
- Forward P/E: 29
- Dividend Yield: 0.51%
Apple needs little introduction as an iconic brand in the digital age. Set up by Steve Jobs way back in the 1970s, it rose to global prominence after the release of the iMac computer in the early 1990s and then the iPod and iPhone in the 21st century.
Apple’s appeal as a day trading stock is based around its trading volume. More than 13 million shares are traded every day. Another important part of its popularity is that the shares often fluctuate a few dollars throughout the day, which means you can buy or sell and make a small profit without even having to use something like leverage.
The only big challenge for day trading Apple is that its stock price has a higher notional value of $195, which makes it highly expensive to most small day traders in the US.
5. NIO (NYSE:NIO)
Copy link to section- Market Cap: $10.1 billion.
- Daily Volume: 50 million
- Forward PE Ratio: N/A
- Dividend Yield: N/A
China has become a leading player in the electric vehicle manufacturing industry. Recent estimate is that there are over 100 electric vehicle companies from China. Of these, only a handful of them like Nio, XPeng, and Li Auto are publicly traded in the United States.
Nio, a company valued at over $10 billion, is one of the most popular stocks among day traders in Wall Street. It has an average daily volume of over 55 million and is highly volatile. One reason for this is that Nio shares trade for less than $5. Nio is also popular because of the overall demand for electric vehicles and their service providers in Wall Street.
Nio constantly ranks high among day traders in social media platforms like Reddit, StockTwits, and even X, formerly known as Twitter.
Where to buy the best day trading stocks
Copy link to sectionThe best place to trade these stocks is through an online broker. Platforms like eToro offer zero commission stock trading, which is a huge benefit when it comes to an active strategy like day trading. Sign up with a stock trading platform below through any of the links.
We found 4 online brokers for users based in
Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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What to look for in a day trading stock?
Copy link to sectionVolatility and volume are the most important characteristics to look for in stocks for day trading. You want to find a stock that experiences a lot of price movement and where many people buy and sell.
High volume stocks are important because day trading relies on being able to open and close trades on the same day, and ideally making a profit when you do. Other people buying and selling simultaneously means there is always enough liquidity to close a position and you are likely to find tighter spreads.
The other important things to look out for when you day trade stocks are technical indicators and chart patterns, like channels, trends, wedges, and breakouts. You can use a platform like FinViz to find a list of stocks displaying particular patterns on any given day.
Is day trading stocks a good idea?
Copy link to sectionIt requires some time and effort to understand but it can be a good idea if you know what you’re doing. Day trading is a fast-paced trading strategy that relies on technical analysis, so you must be able to understand chart patterns and identify your own trends and trading strategy.
It’s only right for people who can dedicate enough time to researching stocks every day. While the five stocks on this page are good options to start with, you want to find new opportunities to be successful constantly. Experienced traders can use margin trading on penny stocks to earn large profits very quickly, but it can be difficult to do this around a full-time job.
You also have to be familiar with the stock market and its news cycles. Earnings reports, economic data, and competitor results can all affect a stock’s price and you must be prepared for when the news breaks. It’s important to remember that most day traders lose money but you can use the links below to help you develop a day trading strategy.
Methodology: How we choose the best day trading stocks
Copy link to sectionAt Invezz, our mission is to empower our readers with the most accurate and reliable financial information. Our curated selection of the best stocks in specific industries is designed to provide investors with well-researched, expertly reviewed stock recommendations. Our team follows a rigorous process to ensure our readers receive high-quality, trustworthy stock selections.
- Initial screening. Our team of experienced stock market analysts conducts an initial screening of stocks within the chosen industry. This involves analyzing a broad range of companies based on key financial metrics such as revenue growth, profitability, debt levels, and market capitalization.
- Earnings reports and financial analysis. Analysts review the latest earnings reports of shortlisted companies. This includes a detailed assessment of financial statements, looking for consistent earnings growth, strong balance sheets, and positive cash flow trends. Special attention is given to year-over-year performance and quarterly results.
- Sector analysis. A comprehensive sector analysis is conducted to understand the macroeconomic factors affecting the industry. This includes examining market trends, competitive landscape, regulatory changes, and technological advancements. Our analysts utilize industry reports, market research, and economic forecasts to gain a holistic view of the sector.
- Analyst recommendations. We consider recommendations from reputable sources such as Barron’s and Zacks. These sources provide expert opinions and ratings on stocks, which serve as an additional layer of validation for our selections. Incorporating external analyst recommendations ensures that our curated stocks are backed by a consensus of expert views.
- Internal review. After the initial selection by our analysts, the chosen stocks are reviewed by a sub-editor. The sub-editor ensures that the analysis is clear, concise, and adheres to Invezz’s editorial guidelines. This review process helps maintain the quality and readability of our content, making it accessible to a broad audience.
- Quarterly updates. To ensure our stock recommendations remain relevant and up-to-date, we update the curated section quarterly. Each update cycle involves re-evaluating the stocks based on the latest financial reports, industry developments, and market conditions. This regular update process ensures that our recommendations reflect the most current information available.
Our approach combines expert analysis, comprehensive research, and regular updates to deliver reliable and insightful investment recommendations. Read more about our review process and editorial policy.
More of the best performing stocks
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