ZIVO Bioscience (NASDAQ:ZIVO) stock is rocketing higher on Friday despite a lack of news concerning the company.
Instead, it looks like we’ve got another classic case of a penny stock being pushed higher by retail traders. These traders look for cheap stocks to pump higher so that they can dump their shares at a higher price.
Backing up that idea today is the heavy trading ZIVO stock is undergoing. As of this writing, more than 53 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 2.2 million shares.
Funnily enough, this isn’t even the first time this week that these traders have pumped ZIVO stock. We saw a similar trend on Monday that had the shares spiking incredibly high before slipping back down.
Keeping that in mind, here’s what traders need to know about ZIVO stock.
- ZIVO Bioscience is an R&D firm in the U.S. focused on developing food products from algae.
- Among its offerings are algae products as feed for livestock.
- It also has options available for people that are looking to consume algae as well.
- The company points to several benefits to this.
- Among them are healthy cholesterol balance and a natural boost to the immune system.
- To go along with that, the algae is sustainable as the company has several strains in development.
ZIVO stock was up 68.8% as of Friday morning but is down 51.7% since the start of the year.
Investors look for more hot stock market news today will want to keep reading!
InvestorPlace has all the latest happenings from the stock market today. There’s loads of news surrounding crypto today after a ban in China sent cryptocurrencies and stocks falling. You can learn all about that at the following links!
More Crypto News for Friday
- China Crypto Ban: 13 Things for Investors to Know About the Latest Crackdown News
- Crypto News: Why BTC, ETH, LTC, DOGE, SOL and ADA Are Dropping Today
- Crypto Stocks: Why RIOT, MARA, COIN and BTBT Are Falling 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.
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Read More: Penny Stocks — How to Profit Without Getting Scammed