Fast Radius (NASDAQ:FSRD) stock is taking off on Friday as investors pike into the stock after the company went public earlier this month.
Let’s go over all the details potential traders need to know about FSRD stock below!
- Fast Radius joined the Nasdaq Exchange on Feb. 7, 2022.
- That was the result of its merger with special purpose acquisition company (SPAC) ECP Environmental Growth Opportunities.
- This saw the SPAC switching names to Fast Radius, as well as the latter’s leadership team taking over.
- But what exactly is Fast Radius all about?
- The company’s focus is on “cloud manufacturing and digital supply chain.”
- It was founded in 2017 and operates out of its headquarters in Chicago, Ill.
- Fast Radius also has offices in Atlanta, Louisville, and Singapore.
- In addition to that, it has microfactories in Chicago, as well as at the UPS Worldport facility in Louisville, Ky.
- Today’s movement for FSRD likely has to do with its penny stock status.
- The company’s market cap is sitting at $292.055 million with a daily average trading volume of around 328,000 shares, as well as a roughly 4% price.
- Backing that up is heavy trading today with some 12 million shares of FSRD stock trading as of this writing.
- While that resulted in the price of the company’s stock quickly surging this morning, it was only a spike before prices started to settle down again.
- Investors still intrested in FSRD stock today will want to be careful.
- Penny stocks are easily manipulated and that looks like what’s happening today.
FSRD stock is up 3.9% as of Friday morning.
There’s more stock market news for traders to dive into below!
InvestorPlace has all the latest stock coverage that traders need to know about on Friday. That includes what’s going on with shares of Quanergy Systems (NYSE:QNGY) stock, DraftKings (NASDAQ:DKNG) stock, and Cepton (NASDAQ:CPTN) stock today. You can find out all about these stock movements at the links below!
More Stock Market News for Friday
- QNGY Stock: Why Lidar Company Quanergy Systems Is Soaring Today
- DKNG Stock: Why Is DraftKings Down Today?
- CPTN Stock Alert: What Is Going on With Cepton 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