Boxed (NYSE:BOXD) stock is gaining on Thursday despite a lack of news from the online wholesale retailer.
There have been no new press releases from Boxed that explain the stock’s rise this morning. On that same note, there aren’t any new U.S. Securities and Exchange Commission (SEC) filings that shed light on its rally.
Instead, investors can look to the heavy trading shares of BOXD stock are seeing today. As of this writing, more than 3.6 million shares of the company’s stock have been traded. To put that in perspective, Boxed’s daily average trading volume is closer to about 2.2 million shares.
Investors will also keep in mind that BOXD is a penny stock. That comes from its market capitalization of $32.632 million and its low share price that’s less than a dollar. This means it’s more susceptible to volatility from heavy trading. That’s doubly true during pre-market hours.
What to Expect From BOXD Stock
While BOXD stock is rallying as investors buy shares today, there’s no telling how long that will last. Considering the lack of news, it’s incredibly likely traders will see shares of the company’s stock fall after the hype has died down. Keep that in mind before making an investment in the online retail company.
BOXD stock is up 34.6% as of Thursday morning.
There’s even more stock market news traders can sink their teeth into below!
We’re serving up all of the hottest stock market news investors need to know about on Thursday! Among that is why Axcella Health (NASDAQ:AXLA) stock is rising, the biggest pre-market stock movers this morning and more. You can read all that news at the following links!
More Thursday Stock Market News
- Why Is Axcella Health (AXLA) Stock Up 35% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Is Warren Buffett Giving Up on Taiwan Semiconductor (TSM) Stock?
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.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed