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!
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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.