Atlantic American (NASDAQ:AAME) stock is soaring higher on Friday despite there being no new news to report about the company. Instead, it looks like the stock is the target of retail traders pumping it up before likely dumping it.
Shares of AAME stock are experiencing increased amounts of trading today. As of this writing, more than 17 million shares of the stock have traded. That’s a significant jump over its daily average trading volume of about 2.2 million shares.
So why is AAME stock heading so high today. There’s loads of talk about it over on Twitter (NYSE:TWTR) from day traders. However, the average investors should be wary of a falling price for the stock once those traders lose interest and dump shares.
Even so, anyone looking at AAME stock today will need to know more about the company. Let’s take a look at what it’s all about below.
- Atlantic American is an insurance company based out of Atlanta, Ga.
- The company owns three subsidiaries that cover different insurance markets.
- That includes life insurance, health insurance, and property insurance, as well as casualty insurance.
- The company notes that it has about $500 million in assets backing its business.
- It also points out that yearly revenues come in close to $200 million.
- Atlantic American’s origins date all the way back to 1937 with the creation of Dilbeck and Dominey Insurance Agency.
- It wasn’t until 1968 that AAME was formed to act as a public holding company for four Georgia companies.
- Hilton H. Howell, Jr. serves as the chairman, president, and CEO of the company.
AAME stock was up 17% as of Friday morning and is up 148% since the start of the year.
Atlantic American isn’t investors’ only choice for a stock making major moves lately.
There are loads of other stocks that have seen positive movement lately. That includes ZK International (NASDAQ:ZKIN), Express (NYSE:EXPR), Tuya (NYSE:TUYA), Jiayin Group (NASDAQ:JFIN), and Takung Art (NYSEMKT:TKAT). InvestorPlace.com has all the details traders need to know below.
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- Tuya IPO: 12 Things to Know About the Chinese Software Company as TUYA Stock Starts Trading
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.