Cosmos Holdings (NASDAQ:COSM) stock is seeing major gains on Wednesday despite a lack of recent news from the company.
Even without news from Cosmos Holdings, we can point to heavy trading of the shares as the reason for the jump in price today. As of this writing, more than 34 million shares of the stock have changed hands. That’s quite the increase compared to its daily average trading volume of only around 65,000 shares.
So what’s behind that heavy trading of COSM stock today? While there’s no exact reason readily available, it is worth noting it’s a penny stock. These are often subject to major volatility as traders pump and dump shares. Keep that in mind before making any investments today.
Here’s a few things investors considering a stake in COSM stock will want to know about the company.
- First off, note that Cosmos Holdings is “a vertically integrated, international pharmaceutical company.”
- The company’s main focus is on the wholesale of pharmaceutical products in Europe.
- It handles this through its various subsidiaries.
- The company operates out of its headquarters in Chicago, Illinois.
- It’s also worth noting that Ault Global, which now trades as BitNile (NYSEMKT:NILE), has a stake in the company.
- Leading Cosmos Holdings is chairman and CEO Grigorios Siokas.
- The company’s market capitalization is sitting at $32.72 million.
COSM stock is up 77.4% as of Wednesday morning but is down 50.5% since the start of the year.
Investors searching for more recent stock market news are in luck!
InvestorPlace has all of the most recent stock news traders need to know about for today! Among that is Tesla (NASDAQ:TSLA), Spotify (NYSE:SPOT), and Xpeng (NYSE:XPEV) news for today! You can read all about these topics at the following links!
More Stock Market News for Wednesday
- India Expansion Could Be What Saves TSLA Stock
- Is SPOT Stock a Buy After Reporting Earnings? 3 Analysts Weigh In on Spotify.
- Why Is Xpeng (XPEV) Stock Revving Up 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