5 Things to Know About Grom Social as Investors Squeeze GROM Stock Higher

Grom Social Enterprises (NASDAQ:GROM) stock is gaining on Thursday even without there being any news from the company.

GROM stock: a phone displaying the GROM social network app page in the app store

Source: Postmodern Studio / Shutterstock

However, that doesn’t mean there’s no reason for the rise today. Several penny stocks are undergoing rallies as retail traders send them higher with short squeezes. That appears to be what’s happening with GROM stock today.

It’s also worth pointing out that GROM stock was heading higher on Wednesday as well. That saw the stock increasing in sympathy with Paltalk (NASDAQ:PALT) as its shares rocketed as much as 177% higher yesterday.

With that out of the way, let’s take a look at what potential GROM investors need to know about the company.

  • Grom Social Enterprises is an entertainment, technology, and social media company.
  • Its focus is on offering family-friendly content, as well as web filtering tools, and child-safe social media for kids.
  • Grom Social holds the title of the only COPPA-compliant social media app for kids under 13 that allows video recording and sharing.
  • It also has Top Draw Animation under its belt, which has worked on a wide range of children’s content.
  • Among those shows are My Little Pony, The Loud House, The Tom and Jerry Show, Teenage Mutant Ninja Turtles, and more.

The extra eyes on GROM stock today come with heavier-than-normal trading. As such, some 43 million shares of the stock have changed hand on noon Thursday. The company’s daily average trading volume is much lower at 1.4 million shares.

GROM stock is up 15.5% as of noon Thursday.

Investors looking for more stock market news will want to keep reading!

InvestorPlace has all the latest stock coverage that traders need to know about today. That includes what’s happening with Dole (NYSE:DOLE) and Virgin Galactic (NYSE:SPCE), as well as this morning’s pre-market stock movers. You can find all of that at the links below!

More Thursday Stock Market News

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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Read More:Penny Stocks — How to Profit Without Getting Scammed

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