Pineapple Energy (NASDAQ:PEGY) stock is rising higher on Wednesday even without any specific news from the solar energy company.
Instead, it looks like speculative traders are packing into PEGY stock today and pushing prices higher. We’ve seen this happen with the company in the past and current activity around the shares supports this idea.
Not only is there a fair bit of discussion about Pineapple Energy shares on Twitter (NYSE:TWTR), but the stock is also seeing heavy trading today. As of this writing, more than 45 million shares of the company’s stock have changed hands. To put that in perspective, the daily average trading volume is closer to 5 million shares.
Should You Invest in PEGY Stock?
There’s a lot of risk investors will face by taking a stake in PEGY stock right now. Without any news to explain today’s action, it’s likely that traders will see the price of shares fall in the near future.
We saw a similar action when the stock was last pumped in August. While the price of shares surged then, the following weeks saw it drop to some of the lowest prices seen in the last year. That might happen yet again, which is reason enough to be wary about an investment.
PEGY stock is up 29.4% as of Wednesday afternoon but down 34% year-to-date ().
There’s more stock market news worth diving into below!
InvestorPlace is home to all of the hottest stock market news for Wednesday! A few examples include why shares of Arcimoto (NASDAQ:FUV), Hempacco (NASDAQ:HPCO) and Cameco (NYSE:CCJ) stock are moving today. You can catch up on all of that news at the following links!
More Stock Market News for Wednesday
- Arcimoto (FUV) Stock Sinks on Reverse Stock Split Plans
- Why Is Hempacco (HPCO) Stock Up 35% Today?
- Why Is Cameco (CCJ) Stock Down 15% Today?
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.