EpicQuest Education (NASDAQ:EEIQ) stock is taking off on Wednesday without any news that explains the stock’s rally today.
As of this writing, there’s been no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why shares of EEIQ are climbing today. No analysts have weighed in on the stock either.
What is happening is heavy trading, which seems to be behind the rise in price for EEIQ stock today. This has nearly 4 million shares of the company’s stock changing hands as of Wednesday morning. For the record, the company’s daily average trading volume is a fraction of that at around 14,000 shares.
The heavy trading today explains the rise in EEIQ stock as investors buy shares. It’s likely that the company is getting pumped up by speculative traders during pre-market hours. That means we might see the stock lose ground later today.
It’s possible for traders to manipulate EEIQ as it’s a penny stock. This comes from the already-mentioned low trading volume, a share price of $1.46, as well as the company’s market capitalization of $16.701 million.
What Is EEIQ Stock?
EpicQuest Education is an education solutions company for domestic and international students. It operates out of Ohio and was founded in 2012. The company went public in a $6 million initial public offering (IPO) back in March 2021. This saw it sell 750,000 shares at a price of $8 per share.
EEIQ stock is up 93.1% as of Wednesday morning.
Investors looking for more of the most recent stock market news will want to keep reading!
We’ve got all of the biggest stock market stories worth knowing about on Wednesday! Among that is why shares of Minerva Surgical (NASDAQ:UTRS) stock are up, the pre-market stock movers making the biggest moves this morning, and more. All of that is ready to go below!
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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.