Jiuzi (NASDAQ:JZXN) stock is on the rise Thursday despite a lack of news from the Chinese new energy vehicle dealership operator.
There have been no recent press releases from Jiuzi that would explain JZXN stock’s climb this morning. To go along with that, the company hasn’t filed anything with the U.S. Securities and Exchange Commission (SEC) to explain the jump.
Instead, we can look to pre-market trading of JZXN stock for an explanation. As of this writing, more than 7.4 million shares have changed hands. That’s a massive surge compared to the company’s daily average trading volume of about 1.5 million shares.
Investors will note that JZXN is a penny stock. This comes from its market capitalization of $4.7 million as well as its shares trading for around 13 cents. Both of these factors are worth keeping in mind, as penny stocks often see more volatility than others — especially during pre-market trading hours.
What Is JZXN Stock?
Jiuzi operates dealerships for new energy vehicles in China. That includes electric vehicles (EVs), as well as the accessories customers may require for them. The company was founded in 2017 and operates out of Hangzhou, China.
JZXN stock is up 40.6% during pre-market trading on Thursday.
Investors looking for more of the latest stock market news are in luck!
We’ve got all of the most recent stock market news worth knowing about today! Among that is what has shares of Auddia (NASDAQ:AUUD) stock up, the biggest pre-market stock movers this morning and more. You can read up on all of that at the following links!
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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.