Lion Group (NASDAQ:LGHL) stock is rocketing higher on Tuesday despite a lack of news from the trading platform operator today.
There’s been no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why shares of LGHL stock are on the move today. Instead, it looks like investors can thank heavy trading for the current rally.
As of this writing, more than 16 million shares of the company’s stock have changed hands. To put that in perspective, the daily average trading volume of LGHL stock is closer to about 1.9 million shares.
Investors will also keep in mind that LGHL is a penny stock. That comes from its low trading price of about 12 cents, as well as its market capitalization of $7.326 million. These two factors make it easy for speculative traders to manipulate the shares.
What to Know About LGHL Stock
Lion Group is based out of Singapore, and it allows for trading on exchanges around the world. The company operates a small trading platform that allows trading for corporate clients, individual traders, and retail investors.
Lion Group was founded in 2015 and went public via a special purpose acquisition company (SPAC) merger with Proficient Alpha Acquisition. This saw the company’s shares make their debut in July 2020.
LGHL stock is up 31% as of Tuesday morning.
Investors seeking more of the latest stock market news will want to keep reading!
We’ve got all of the most recent stock market coverage traders need to know about on Tuesday! That includes the biggest pre-market stock movers this morning, more housing market crash discussions, and more. Investors can find out all about these topics at the following links!
More Tuesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- Housing Market Crash: Moody’s Warns of a Ticking Time Bomb
- WDC Stock Alert: Why Western Digital Shares Are Up 10%
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 risk.
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.