What Is Going on With Bonso Electronics (BNSO) Stock Today?

  • Bonso Electronics (BNSO) stock is rising today amid heavy trading.
  • Shares are moving despite a lack of news from the electronic scale maker.
  • Traders on social media appear to be pushing BNSO stock higher today.
A person stepping on a scale representing BNSO Stock.

Source: Rostislav_Sedlacek / Shutterstock.com

Bonso Electronics (NASDAQ:BNSO) stock is rocketing higher on Monday despite a lack of news from the company.

Instead, heavy trading is behind the massive increase in price for BNSO stock. Some 10 million shares are on the move as of this writing. To put that in perspective, the stock’s daily average trading volume is only about 16,000 shares.

Considering that low average trading volume and market capitalization of $40 million, BNSO is a penny stock. That’s despite its value nearly doubling today from Friday’s close of $4.78 per share.

Investors will want to be careful about taking a stake in BNSO stock during today’s rally to the $8 level. It’s now uncommon for retail investors on social media to come together to pump up penny stocks. The low trading volume and market capitalization make it fairly easy for traders to manipulate Bonso Electronics’ stock price.

We’re also seeing plenty of chatter about BNSO stock on social media today. This includes plenty of spam and bot posts. Still, there are some influencers taking note of today’s rise.

If you’re wondering what exactly Bonso Electronics does, you’re probably not alone. Its small size means few are familiar with the business. Essentially, the company focuses on measuring weight. Bonso produces a variety of electronic scales, from ones used by professionals to typical, household models.

As of this writing, BNSO stock is up more than 70% on Monday afternoon.

There’s more recent stock market news for traders to dive into below!

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Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (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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