Advanced Health Intelligence (NASDAQ:AHI) stock is seeing a massive rally on Friday without any recent news from the healthcare company.
There have been no press releases from Advanced Health Intelligence or filings with the Securities and Exchange (SEC) that explain today’s gains. The company also hasn’t received any new analyst coverage that would act as a reason for the positive momentum on Friday.
Instead, heavy trading explains why shares of AHI stock are heading higher this morning. As of this writing, more than 6 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is nowhere close to that at around 41,000 shares.
Combined that low average trading volume, the stock’s prior closing price of 31 cents, and Advanced Health Intelligence’s market capitalization of $9.766 million, and you have a clear penny stock.
Why Does That Matter for AHI Stock?
Penny stocks can be incredibly volatile due to speculative traders that pump and dump the shares. This is especially true for trading that happens outside of normal hours. It’s possible that’s what’s happening this morning with the sudden surge in value for AHI stock.
AHI stock is up 113.8% during pre-market trading on Friday. For the record, the stock closed out Thursday down 27.9% year-to-date.
Investors seeking more of the most recent stock market news will want to keep reading!
InvestorPlace has all of the latest stock market coverage that traders need to know about on Friday! Among that is what’s moving shares of WeTrade (NASDAQ:WETG) stock, the biggest pre-market stock movers this morning, and more. You can find all of that info from the following links!
More Friday Stock Market News
- Why Is WeTrade (WETG) Stock Up Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- Dear Nikola (NKLA) Stock Fans, Mark Your Calendars for July 6
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.