ZyVersa Therapeutics (NASDAQ:ZVSA) stock is taking off on Thursday without any recent news from the biopharmaceutical company.
Instead, it looks like investors can thank heavy pre-market trading for the ZVSA stock’s rise this morning. As of this writing, more than 600,000 shares of the stock have changed hands. That’s quite the jump compared to its daily average trading volume of about 354,000 shares.
Investors will want to keep in mind that ZVSA is a penny stock. That’s worth noting, as these are more volatile during pre-market trading. The company’s prior closing price was $1.63 per share, and its market capitalization is $15.015 million.
More About ZVSA Stock
It’s also worth noting that ZVSA stock hasn’t been on the market for very long. The company went public in July 2022 and not through an initial public offering ( ). Instead, it went through a special purpose acquisition company (SPAC) merger with Larkspur Health Acquisition Corp. for its public debut.
Companies that went public through SPAC mergers have become targets of retail traders over the last year. That’s due to them typically having low values compared to those going public through IPOs. That also means these stocks can see more wild movements than traders might expect.
ZVSA stock is up 35% as of Thursday morning.
Investors looking for more of the latest stock market news will want to stick around!
We’ve got all of the hottest stock market news traders need to know about on Thursday! That includes the biggest pre-market stock movers this morning, as well as the latest news concerning stock being down, and more. You can find all of that news at the following links!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Why Are Stocks Down?
- ZURA Stock Alert: Low-Float Zura Bio Rockets 300%
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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.