Amesite (NASDAQ:AMST) stock is seeing massive movement on Friday despite a lack of news concerning the company.
Here’s what to know about the strange trading for AMST stock today.
- So why are shares of the online learnings company on the rise?
- It likely has to do with retail traders on social media.
- These traders often pick out cheap stocks to pump up the price before taking off with the profits.
- The idea of retail traders taking a liking to AMST stock isn’t too surprising.
- The low price point of the stock makes it an easy target for manipulation.
- This holds true for just about any penny stock.
- What’s interesting about today’s movement is that AMST isn’t getting much talk on Reddit.
- Typically, the price boosting for stocks like this come from some Reddit message boards.
- However, that’s not the case today.
- Instead, it looks like other forms of social media are where these retail traders are collecting.
- Many over on Twitter (NYSE:TWTR) are sharing memes about the stock and calling for others to jump in and boost the price even further.
- So far that plan is working.
- AMST stock is seeing much heavier trading today than what’s normal for it.
- As of this writing, more than 37 million shares of the stock have changed hands.
- That’s a major spike in trading compared to the company’s daily average trading volume of only about 573,000 shares.
AMST stock was up 13.9% as of Friday afternoon, which continues a rally that started yesterday. Even so, shares of the stock are still down 30% since the start of the year.
Investors that want to see what else the market has to offer today can keep reading.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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