MMTEC (NASDAQ:MTC) stock is taking off on Thursday without any clear news from the internet-based technology services and solutions company.
There’s no news directly from the company this morning that explains the rally. That includes a lack of press releases as well as no filings with the U.S. Securities and Exchange Commission (SEC) to speak of.
What is happening is some incredibly heavy trading of MTC stock this morning. As of pre-market trading, more than 4.4 million shares have changed hands. That’s a massive surge compared to the daily average trading volume of about 652,000 shares.
MTC Stock Continues a Rally
Investors will also note that this isn’t the first day of MTC stock rallying under heavy trading. Shares also jumped 37.4% higher on Wednesday. That came alongside nearly 1.9 million shares changing hands in normal trading hours.
It’s also worth keeping in mind that MTC is a penny stock. Shares were trading at $1.58 when markets closed on Wednesday. MTC also has a low market capitalization of about $5 million. This makes it susceptible to volatility.
MMTEC offers up solutions and services to a variety of businesses in China. That includes many financial firms, such as hedge funds, mutual funds, trading groups and more.
MTC stock is up 58.9% as of Thursday’s pre-market trading.
Investors can find more of the latest stock market happenings below!
We’ve got all the latest news moving the stock market on Thursday! Among that is what has shares of Biophytis (NASDAQ:BPTS) rising, today’s biggest pre-market stock movers and more. You can read up on all that news at the following links!
More Thursday Stock Market News
- Why Is Biophytis (BPTS) Stock Up 42% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- 5 Investors Betting Big on First Solar (FSLR) Stock in 2023
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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.
