Novo Integrated Sciences (NASDAQ:NVOS) stock is taking off on Tuesday despite a lack of news concerning the healthcare company.
Instead, investors have heavy trading to thank for the rise in price today. That comes as some 34 million shares of the stock change hands. To put that in perspective, the company’s daily average trading volume is closer to 3.8 million shares.
Investors will note there are no recent press releases, earnings reports or U.S. Securities and Exchange Commission (SEC) filings explaining the rally. Additionally, there’s been no new analyst coverage that would explain the rise. Also, it’s unlikely to be a short squeeze as short interest in NVOS stock is below 1%.
However, investors will want to keep in mind that NVOS is a penny stock. It closed out Monday at just 12 cents per share and only has a market capitalization of $7.359 million. This makes it easy for traders to come together and pump up the price of the stock, especially during volatile pre-market hours.
What Is Novo Integrated Sciences?
Novo Integrated Sciences is a healthcare parent company that operates subsidiaries throughout North America. The company’s revenue comes from services and products provided by its team of “multidisciplinary primary care clinicians and practitioners in Canada.”
NVOS stock is up 27.2% as of Tuesday morning.
Investors looking for more of the latest stock market news will want to stick around!
InvestorPlace is home to all of the latest stock market news on Tuesday! Among that is what has shares of Axcella Health (NASDAQ:AXLA) stock, this morning’s biggest pre-market stock movers and more. You can find out all about these matters at the links below!
More Tuesday Stock Market News
- Why Is Axcella Health (AXLA) Stock Up 66% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- Short Squeeze Stocks Alert: 5 Hot Stocks With HIGH Cost to Borrow Fees
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.