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Why Is AGBA Group (AGBA) Stock Up 80% Today?


  • AGBA (AGBA) stock is rising with heavy trading.
  • That’s despite a lack of news from the company.
  • Shares of AGBA only started trading publicly in November 2022.
AGBA Stock - Why Is AGBA Group (AGBA) Stock Up 80% Today?

Source: Wright Studio / Shutterstock.com

AGBA (NASDAQ:AGBA) stock is heading higher on Friday as the company’s shares see a heavy amount of trading this morning.

As of this writing, more than 3.3 million shares of AGBA stock have changed hands. To put that in perspective, the company’s daily average trading volume is only a fraction of that at about 58,000 shares.

It’s worth noting that there’s no recent news that would explain why shares of AGBA stock are seeing heavy trading today. That includes a lack of press releases, filings, or analysts weighing in on the stock.

However, traders will keep in mind that AGBA is a penny stock. That means it’s more susceptible to volatile trading. This is doubly true during pre-market trading.

What to Know About AGBA Stock

AGBA is a financial services company that operates out of Hong Kong. The company’s business focuses on the Guangdong-Hong Kong-Macao Greater Bay Area with a set of financial and healthcare products.

It was founded in 1993 and currently employs 152 people. The company went public in November 2022 after completing a merger with TAG Holdings. Shares of AGBA stock have been on a downward trend since that debut.

AGBA stock is up 79.8% during pre-market trading on Friday.

There’s also more stock market news traders will want to know about at the following links!

We’ve got all of the latest stock market news worth reading about today. Among that is what has Top Financial (NASDAQ:TOP) stock up, the biggest pre-market stock movers this morning, and more. You can find all of this news down below!

More Friday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risk.

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

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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/04/why-is-agba-group-agba-stock-up-80-today/.

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