Gaucho Group (NASDAQ:VINO) stock is falling hard on Friday after the e-commerce company announced a new $44 million equity line of credit (ELOC) yesterday.
With yesterday’s announcement, shares of VINO stock underwent a major rally. This saw shares jumping from $1.41 at the start of trading to $5.40 when markets closed on Thursday. For the record, that’s a massive 283% jump in price.
With that kind of rally behind it, it makes sense investors would see some negative movement from VINO stock today. The shares are likely settling after the rally, but don’t seem like they’ll give up all of yesterday’s growth.
Investors will also note VINO is a penny stock with a $7.5 million market cap and low share price. That means it’s more susceptible to volatility, which might explain some of why it underwent such a huge rally yesterday.
VINO Stock Movement Today
With yesterday’s rally behind it, VINO stock is also seeing heavy trading today as investors sell while the stock is high. This has some 1 million shares on the move as of this writing. That’s already above its daily average trading volume of about 684,000 shares.
VINO stock is down 33.7% as of Friday morning but is up 193.4% since the start of the year.
There’s even more stock market news traders will want to know about below!
We’ve got all of the hottest stock news traders need to know about for Friday! Among that is what has shares of MDxHealth (NASDAQ:MDXH), Edible Garden (NASDAQ:EDBL) and Genetic Technologies (NASDAQ:GENE) stock on the move today. You can catch up on that news at the following links!
More Friday Stock Market News
- Why Is MDxHealth (MDXH) Stock Down 40% Today?
- Why Is Edible Garden (EDBL) Stock Down 45% Today?
- Why Is Genetic Technologies (GENE) Stock Up 173% Today?
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.
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Read More: Penny Stocks — How to Profit Without Getting Scammed
