Petros Pharmaceuticals (NASDAQ:PTPI) stock is rocketing higher on Friday despite a lack of news from the men’s health pharmaceutical company.
That includes no press releases from Petros Pharmaceuticals that explain why its stock is on the rise today. The company also hasn’t made any filings with the U.S. Securities and Exchange Commission (SEC) today that would give a reason for the increase.
Despite that, investors are seeing heavy trading of PTPI stock on Friday. As of this writing, roughly 1.8 million shares of the company’s stock have been traded as of this writing. To put that in perspective, the daily average trading volume for PTPI stock is only about 14,000 shares.
What’s Behind Today’s PTPI Stock Rally
That daily average trading volume is incredibly low, as is the company’s market capitalization of $2.11 million. Its shares also closed out Thursday at $1.01 each. All of these firmly put the company’s shares in the penny stock range.
Penny stocks can be incredibly volatile without much reason. That’s due to how easy it is for retail traders to manipulate the company’s price by buying and selling shares. That may explain why the shares are taking off this morning. Investors will also note that penny stocks are more volatile in pre-market trading.
PTPI stock is up 100.9% as of Friday morning.
Investors can find more of the latest stock market news below!
We’ve got all of the hottest stock market coverage for Friday! Among that is what has shares of CXApp (NASDAQ:CXAI) stock up, the biggest pre-market stock movers this morning and more. You can find all of that at the following links!
More Friday Stock Market News
- Why Is CXApp (CXAI) Stock Up 213% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- Why Are Stocks Up Today?
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.
Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
