FingerMotion (NASDAQ:FNGR) stock is on the move again Tuesday as the company’s shares fall following a rally that started yesterday.
Just like on Monday, there’s no specific news that explains why shares of FNGR stock are moving today. Instead, it seems likely that a short squeeze is behind the recent rise in the price of the company’s shares and today’s fall.
And mimicking Monday yet again is heavy trading for shares of FNGR stock today. This has more than 12 million units on the move as of this writing. Yet again, that’s a massive increase compared to its daily average trading volume of around 1.8 million shares.
What Is FingerMotion?
FingerMotion is a Chinese-based company focused on e-commerce opportunities. This has it allowing customers to make payments and purchases through its platform. That includes sending payments via its SMS and MMS services.
Adding to that, the company also deals in data analysis. It provides insight into consumer data to government agencies and business customers. This has it providing them with insight into buying habits of its users.
To go along with that, FingerMotion works with telecommunication companies to provide data plans to customers. Using its e-commerce platform, customers can buy more data and other services from the company.
FNGR stock started off up again in pre-market trading. However, those shares are down 10.8% as of Tuesday morning.
Investors looking for more of the most recent stock market news today will want to stick around!
InvestorPlace is home to all of the hottest stock market coverage for Tuesday! A few examples include why shares of Rivian Automotive (NASDAQ:RIVN) and chip stocks are rising, as well as this morning’s biggest pre-market stock movers. You can find all of that news at the following links!
More Tuesday Stock Market News
- Rivian (RIVN) Stock Pops After Confirming Annual Production Targets
- Why Are Chip Stocks AMD, NVDA Up Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
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.