MDJM (NASDAQ:MDJH) stock is on the rise Wednesday despite a lack of news concerning the company.
Instead, the stock is rising alongside heavy trading of its shares this morning. As of this writing, more than 20 million shares of the stock have changed hands. That’s a massive surge over the company’s daily average trading volume of about 111,000 shares.
So what’s behind the rise of MDJH stock today? We’re likely seeing a pump and dump from retail traders. We’re seeing Tweets from day traders today that suggest this is what has the stock rising as fast as it is.
Penny stocks such as MDJH are subject to pump and dumps due to their low value. The ease of entry makes them more susceptible to these types of market movements. That means traders will want to be careful about jumping in on today’s hype.
Keeping that in mind, here’s a few things potential investors need to know about MDJM today.
- MDJM is an integrated real estate service company based out of China.
- The company was founded in 2002 and it’s headquarters is located in Tianjin.
- It was formerly known as MDJLEAD Ltd before changing its name to MDJM in 2018.
- The company’s market capitalization is $27.086 million.
MDJH stock is up 28.9% as of Wednesday morning.
Investors looking for more recent stock market news will want to keep reading!
InvestorPlace has all the latest stock coverage that traders need to know about for Wednesday! That includes Digital World Acquisition (NASDAQ:DWAC) stock getting a boost today, this morning’s biggest pre-market stock movers, as well as a breakdown of electric vehicle (EV) stocks. You can find out all about these matters at the following links!
More Stock Market News for Wednesday
- DWAC Stock Heats Up as Tentative Truth Social Launch Date Draws Near
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- Are EV Stocks RIDE and NKLA ‘Close to Valueless’? Muddy Waters Sounds Off on SPACs.
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