Baosheng Media (NASDAQ:BAOS) stock is surging higher on Tuesday and it’s got nothing to do with news from the company.
Today’s increase in BAOS stock is the result of retail traders on social media pumping shares higher. That’s not too surprising considering the low entry point into the penny stock. That makes it incredibly easy to manipulate shares.
That appears to be the case today with heavy trading of BAOS stock. That has more than 35 million shares of the stock trading as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 573,000 shares.
So what does that mean for traders considering BAOS stock today? They need to be careful about jumping in at the wrong time. A likely pump and dump means that unlucky traders could be seeing red instead of green.
Now let’s take a look at what potential investors need to know about BAOS stock today.
- Baosheng Media is a Chinese “V-log streaming marketing service provider.”
- This has it providing customers with marketing solutions.
- Among those are internet effect marketing, V-log or short video streaming marketing, original big data platform system service, and AI technology.
- BAOS stock is still new to the U.S.
- The shares started trading on the Nasdaq Exchange on Feb. 8, 2021.
- Baosheng Media’s market capitalization is $57.059 million.
BAOS stock is up 14.6% as of Tuesday morning but is down 79.5% since going public earlier this year.
There’s plenty more stock market news worth looking into below!
We’ve got all the latest stock coverage that traders need to know for Tuesday. A few examples include why shares of Nxt-ID (NASDAQ:NXTD), NextNav (NASDAQ:NN), and Bone Biologics (NASDAQ:BBLG) are rising higher today. You can get all that info from the following links!
More Tuesday Stock Market News
- NXTD Stock: 5 Things to Know About Short-Squeeze Play Nxt-ID Today
- NN Stock: Why Is Little-Known NextNav Soaring 10% Today?
- BBLG Stock Alert: What Is Going on With Bone Biologics 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