Meten Holding (NASDAQ:METX) stock is running higher on Thursday despite a lack of news concerning the company today.
Instead, it looks like the stock is gaining as retail investors short-squeeze METX shares. That’s not too surprising as penny stocks are easy to manipulate due to their low entry price. As such, investors will want to be wary about jumping into the stock today.
Keeping that in mind, here’s what potential investors need to know about METX stock.
- Meten Holding is an ELT education company in China.
- It focuses on teaching the English language as well as offering skills to students and professionals.
- The company offers its services through a digital platform, as well as from learning centers around China.
- It operates several brands in the country.
- Meten is its adult and junior ELT services business.
- ABC covers primarily junior ELT services.
- Finally, there’s Likeshuo, which handles online ELT.
- The company has been around since 2006 but only recently went public with an IPO in April 2020.
- Its current market capitalization is sitting at $50.955 million.
METX stock is experiencing heavy trading today as investors pump it higher. As of this writing, more than 85 million shares of the stock change hands. That’s quite the jump from its daily average trading volume of 12.8 million shares.
METX stock was up 21.2% as of Thursday morning but is down 77.9% since the start of the year.
There’s more stock market news worth diving into below!
InvestorPlace offers the latest stock market coverage that traders need to know about. Among that news today is recent news boosting Virgin Galactic (NYSE:SPCE) higher, this morning’s pre-market stock movers, as well as what was happening with Grom Social Enterprises (NASDAQ:GROM) yesterday. You can get up to speed on this news at the following links!
More Stock Market News for Thursday
- Virgin Galactic News: Hold On to Your Hats, Why SPCE Stock Is Blasting Off Today
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- GROM Stock: What Is Going on With Grom Social Enterprises Today?
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.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed