Why Is SeaStar Medical (ICU) Stock Up 80% Today?


  • SeaStar Medical (ICU) stock is gaining with heavy trading Thursday.
  • That’s despite a lack of news from the company.
  • It did release earnings earlier this week.
ICU Stock - Why Is SeaStar Medical (ICU) Stock Up 80% Today?

Source: shutterstock.com/MAD.vertise

SeaStar Medical (NASDAQ:ICU) stock is on the rise Thursday as the medical technology company’s shares see plenty of activity today.

During the early trading hours, some 6 million shares of ICU stock changed hands. That’s a massive jump compared to the company’s daily average trading volume, which is only about 146,000 shares.

While investors may be searching for news behind the heavy trading of ICU stock today, they won’t have much luck. There’s been no new press releases or filings with the Securities and Exchange Commission (SEC) that explain today’s activity.

However, one thing investors will want to keep in mind is ICU’s low price of 59 cents per share and market capitalization of just $7.845 million. That firmly places ICU as a penny stock. This helps explain the volatile movement today as penny stocks often experience extreme volatility in pre-market trading.

Recent ICU Stock News

Earlier this week, SeaStar Medical released its earnings report for the first quarter of 2023. The company’s shares got a slight boost following the release of that report. However, it quickly began giving up those gains, and more, in the following days.

ICU stock is currently up 79.6% as of Thursday morning. However, its shares were down 84.6% year-to-date when markets closed on Wednesday.

Investors looking for more of the most recent stock market news will want to continue reading.

InvestorPlace offers up all of the latest stock market coverage traders need to know about on Thursday! That includes the biggest pre-market stock movers today, what sent stocks up yesterday, and more. You can catch up on all of this news at the following links!

More Thursday Stock Market News

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.

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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/05/why-is-seastar-medical-icu-stock-up-80-today/.

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