That warning gives Versus Systems until December to get its stock price back above $1 per share. If it can’t do this, the engagement and rewards company will see shares of VS stock delisted from the exchange.
So why is VS stock on the move today if the company got this warning a month ago? It looks like retail traders have taken notice of the stock and are pumping it higher today with heavy trading.
As of this writing, more than 6 million shares of VS stock have been traded. That’s a massive increase compared to the company’s daily average trading volume of only about 93,000 shares.
However, this doesn’t mean investors will want to leap on VS stock right now. It’s completely possible that shares of the company’s stock will take a nosedive after this pump. If that happens, traders could be left seeing red.
That’s the danger that comes with investing in penny stocks, and VS easily falls into that category. The company’s stock only trades for about 50%, even after today’s rally. It also only has a market capitalization of $10.8 million. All of these factors make it easy for day traders to manipulate the stock’s price.
VS stock is up 6.6% as of Tuesday morning. However, the stock is down 77.6% since the start of the year. It’s also worth mentioning VS was up as much as 25% earlier this morning.
There’s more recent stock market news that traders will want to know about below!
We’ve got all the hottest stock market coverage to get traders through Tuesday with! That includes why shares of Greenwich Lifesciences (NASDAQ:GLSI) stock, Pershing Square Tontine (NYSE:PSTH) stock and Canoo (NASDAQ:GOEV) stock are moving today. You can find out more on these matters at the links below!
More Tuesday Stock Market News
- Why Is Greenwich Lifesciences (GLSI) Stock Up Today?
- Dear PSTH Stock Fans, Mark Your Calendars for July 26
- GOEV Stock Soars as Canoo Electrifies Walmart’s Delivery Vehicle Fleet
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
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.