Amesite (NASDAQ:AMST) stock is rocketing higher on Thursday after providing materials to investors from a recent presentation.
The materials come from the company’s Jan. 18 presentation at the Sidoti January Micro-Cap Virtual Conference. These materials cover the latest company financial details, as well as its plans for the coming years.
For example, Amesite notes that cash on hand as of September 2022 is sitting at $8.1 million while the company currently has zero debt. In addition to that, it’s laying out a path to profitability with its branded online learning programs.
Amesite works in multiple markets with these programs. That includes universities, museums and businesses. It notes universities are expected to report revenue of $103 billion in 2023, museums’ annual education spending is $2 billion and businesses spend more than $1 billion per year on employee training.
Investor Reactions Lift AMST Stock
Following the release of this presentation, AMST stock is seeing heavy trading. This has some 2 million shares of the company’s stock on the move as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 300,000 shares.
This heavy trading is likely a sign of investor confidence in the company. However, traders will also keep in mind that AMST is a penny stock. That means it experiences volatility easily.
AMST stock is up 45.7% as of Thursday morning.
Investors will want to stick around for all of the latest stock market news today!
We’ve got all of the most recent stock news traders need to know about on Thursday! That includes this morning’s biggest pre-market stock movers, as well as the latest on AMTD Digital (NYSE:HKD) and Magic Empire Global (NASDAQ:MEGL) shares. You can catch up on that at the links below!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Why AMTD Digital (HKD) Stock Keeps Climbing After Lock-Up Period Expires
- Magic Empire (MEGL) Stock Gains 40% Ahead of Lockup Expiry
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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.