Auddia (NASDAQ:AUUD) stock is rocketing higher on Thursday despite a lack of news from the audio technology company.
As of this writing, there’s no news that explains the rise in price for AUUD stock today. That includes a lack of press releases or filings with the U.S. Securities and Exchange Commission (SEC) that would cause the stock to take off as it has.
The one thing we can point to is heavy trading during pre-market hours. This has some 4.8 million shares changing hands at the time of this writing. To put that in perspective, it’s a massive jump over the company’s daily average trading volume of only about 27,000 shares.
That low trading volume, as well as the company’s market capitalization of $6.812 million and share price of 53 cents, firmly put AUUD in penny stock territory. Penny stocks can be incredibly volatile for these reasons, especially during pre-market trading. That seems to be what’s happening today.
What to Know About AUUD Stock
Auddia is an audio tech company focused on using artificial intelligence (AI) to boost interaction. The company was founded in 2012 under the name Clip Interactive and continues to operate out of Boulder, CO.
AUUD stock is up 188.8% during pre-market trading on Thursday.
Investors looking for more of the most recent stock market news are in the right place!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Thursday. That includes the biggest pre-market stock movers this morning, what’s happening with Chinese tech stocks and more. You can read up on all of that at the following links!
More Thursday Stock Market News
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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 risks.
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.