Sequential Brands (NASDAQ:SQBG) stock is heading higher on Friday despite a lack of news that could cause the increase.
Let’s take a dive into SQBG stock and see what’s got it moving today.
- To start off with, the stock has been falling lately as investors anticipate bankruptcy for the brand licensing company.
- The company, which handles licensing for brands, hasn’t been doing so well.
- This resulted in it trying to sell back the Jessica Simpson clothing brand to the singer.
- However, talks haven’t seemed to be going well for the company.
- There have also been discussions about Martha Stewart selling shares of SQBG stock last month.
- Her sale of those shares came shortly before Bloomberg reported about an impending bankruptcy.
- That caused some to speculate that Stewart might have traded shares with insider knowledge.
- The company’s Board of Directors has also been shaken up during its turmoil.
- That includes Stewart, and several others, leaving it.
- Sequential Brands also has a low float, which makes SQBG stock a possible target for a short squeeze.
- That could be what has shares of the stock rising higher today despite all of the other recent negative news.
- We are seeing heavy trading of DQBG stock today with some 2 million shares moving.
- That’s well above its daily average trading volume of about 670,000 shares.
SQBG stock was up 25.1% as of Friday afternoon but is down 24.3% since the start of the year.
Investors hungry for more stock market news will want to keep scrolling!
InvestorPlace.com has loads of stock market news to jump into for Friday. That includes the latest news that has Virgin Galactic (NYSE:SPCE) and Astra Space (NASDAQ:ASTR) rising, why TAT Technologies (NASDAQ:TATT) stock is getting a boost, and more. Find out all about these subjects at the following links!
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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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