Baosheng Media hasn’t put out any press releases that explain its rise today. Likewise, there have been no filings with the Securities and Exchange Commission (SEC) to enlighten investors on the reason for its increase. Finally, there’s no new analyst coverage that gives a reason for the rally.
However, that doesn’t mean BAOS stock is moving without any news. Investors will note that the company’s shares are experiencing heavy trading today. As of this writing, more than 2 million shares of the stock have changed hands. For the record, that’s a massive gain over its daily average trading volume of roughly 162,000 shares.
Investors will keep in mind that BAOS closed out normal trading hours on Wednesday at $5.93 cents per share. It also has a market capitalization of $9.1 million. This places the company’s shares in penny stock territory.
Why That Matters for BAOS Stock
Penny stocks are notorious for being incredibly volatile. That’s due to how easily retail traders can manipulate the stock’s price. That’s double true outside of normal trading hours. It seems like that might be why the company’s stock is on the rise today.
BAOS stock is up 99.1% as of Thursday morning.
Investors looking for more of the most recent stock market news will want to stick around!
InvestorPlace is home to all of the hottest stock market coverage worth reading about on Thursday! A few examples include what’s moving shares of Airspan Networks (NYSEMKT:MIMO) and GameStop (NYSE:GME) stock, as well as the biggest pre-market stock movers this morning. We’ve got all of that news ready to go at the links below!
More Stock Market News For Thursday
- Why Is Airspan Networks (MIMO) Stock Up 55% Today?
- Why Is GameStop (GME) Stock Down 22% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
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.