A 50% daily gain in any stock is a big deal. For investors in Chinese conglomerate SGOCO Group (NASDAQ:SGOC), the price action of SGOC stock today is no exception.
Indeed, various meme stocks are rallying as of late. And currently, it appears that SGOCO finds itself in a high-profile group of meme stocks being targeted by retail investors. The volatile moves we’ve seen in this stock in recent days include a 175% surge earlier this week. No doubt, this stock has been moving violently up and down.
Retail investors have found power in numbers. And many believe the retail trade is what’s driving this stock. There’s certainly reason for this sentiment.
However, lately it’s been speculated that institutional money is piling into this trade as well. Any high-volatility stock is an opportunity to make some short-term money. Accordingly, SGOC stock appears to be a battleground stock for investors.
Let’s dive into a few things investors might want to know about little-known SGOCO Group.
What Investors Should Know About SGOC Stock
- SGOCO is a Chinese conglomerate based in Hong Kong.
- The company’s focus is on four business segments: virtual reality, environmental protection and energy-saving technologies, money lending, and property investment.
- As a China-based company, SGOC stock has been under pressure recently.
- In fact, SGOC stock has traded around $1 per share for the better part of the past four years.
- Accordingly, the move to $29 per share earlier this year is an indication SGOC stock is being targeted by retail traders and speculators.
- The company’s short volume ratio currently stands around 26% at the time of writing.
- Currently, SGOC stock is up approximately 1,000% from the beginning of the year.
On the date of publication, Chris MacDonald 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.
