Why Is Boxed (BOXD) Stock Up 32% Today?


  • Boxed (BOXD) stock is on the rise without news today.
  • Instead, it’s seeing strong trading in pre-market hours.
  • Investors will note the company is on its way to being delisted.
BOXD Stock - Why Is Boxed (BOXD) Stock Up 32% Today?

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Boxed (NYSE:BOXD) stock is on the rise Thursday despite a lack of news from the e-commerce wholesale retail company.

Boxed hasn’t yet put out a press release or released a U.S. Securities and Exchange Commission (SEC) filing that explains today’s gains. However, traders will remember that earlier this month, the company announced it was in negotiations over a forbearance agreement. It also announced a delisting notice, which it doesn’t intend to appeal.

While there’s no update on that today, investors are taking an extra interest in BOXD stock. This has it seeing heavy pre-market trading this morning. As of this writing, more than 6.2 million shares have changed hands. That’s already closing in on the company’s daily average trading volume of about 10.7 million shares.

What to Know About BOXD Stock

One thing that investors will want to keep in mind is the current state of BOXD stock. The company’s shares are down 40.5% since the start of the year. On top of that, it’s market capitalization is $11.86 million at the time of this writing. That, combined with its low share price of about 16 cents, makes BOXD a penny stock.

Penny stocks can be incredibly volatile. That’s due to how easily retail traders can take stakes in them. Investors will also note that these stocks often see more volatility in pre-market trading. That means investors might see BOXD stock give up its early morning gains after the opening bell.

BOXD stock is up 31.6% during pre-market trading on Thursday!

Investors looking for more of the latest stock market news will want to keep reading!

InvestorPlace is home to all of the hottest stock market happenings for Thursday! That includes the biggest pre-market stock movers this morning, as well as the latest news concerning GameStop (NYSE:GME) and a stock market crash. You can read up on all of that news at the following links!

More Thursday Stock Market News

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Read More:Penny Stocks — How to Profit Without Getting Scammed

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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/03/why-is-boxed-boxd-stock-up-32-today/.

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