Instead, today’s decline is a case of shares retreating from a prior rally. When MVLA stock closed out trading on Friday, the previous day of trading, shares were up 46.6%. That rise came alongside heavy trading as some 3 million shares changed hands. For the record, the company’s daily average trading volume is about 202,000 shares.
It’s worth noting that stock trading is sequential, which means MVLA isn’t giving up all of the gains it made on Friday. That’s good news for traders as pre-market trading is typically volatile. That means shares likely won’t keep decreasing if MVLA makes it through pre-market without further losses.
What Was Behind the MVLA Stock Rally?
The previous rally for MVLA seemingly came out of nowhere with there being no news from the company last week. That included a lack of press releases or filings with the U.S. Securities and Exchange Commission (SEC) on Friday.
No matter the case, investors will want to keep an eye on MVLA stock throughout the day today in case of further losses. As of this writing, shares are down 16.2% in pre-market trading on Tuesday.
Investors seeking more of the latest stock market news will want to keep reading!
InvestorPlace has all of the hottest stock market news traders need to know about on Tuesday! A few examples include why shares of Arbe Robotics (NASDAQ:ARBE) and Troika Media Group (NASDAQ:TRKA) stock are rising, as well as the biggest pre-market stock movers this morning. Investors can find all that news at the following links!
More Tuesday Stock Market News
- Why Is Arbe Robotics (ARBE) Stock Up 64% Today?
- Why Is Troika Media Group (TRKA) Stock Up 40% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
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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.