EBET (NASDAQ:EBET) stock is taking off on Tuesday despite a lack of news concerning the online gambling and technology company.
That means there are no new press releases or filings with the U.S. Securities and Exchange Commission (SEC) that explain the stock’s rally today. Likewise, no analysts have provided new coverage that would result in today’s massive movement.
Instead, it looks like heavy trading is to thank for the EBET stock rally this morning. As of this writing, more than 12 million shares have changed hands. To put that in perspective, the company’s daily average trading volume is around 280,000 shares.
Investors will keep in mind that EBET last closed out trading at about 20 cents per share. It also only has a market capitalization of around $5 million. This makes EBET a penny stock, meaning it’s more susceptible to volatile movement from speculative or retail traders.
What to Watch for EBET Stock Today
Traders will want to keep an eye on EBET stock today as an investment now could turn sour. While the stock has rallied greatly in pre-market trading, it could easily give up those gains throughout normal trading hours. If not today, the stock is likely to settle from today’s rally in the following days.
We’re already seeing the stock come off its high this morning, when it was up as much as 105%. Now, shares of EBET stock are up 71.3% as of this writing.
Investors seeking out more of the most recent stock market news will want to keep reading!
We have all of the hottest stock market coverage that traders need to know about on Tuesday! That includes the biggest pre-market stock movers this morning, the latest news concerning Japanese stocks and more. You can catch up on all of these matters at the following links!
More Tuesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- The 3 Best Japanese Stocks to Buy as Warren Buffett Dives In
- 3 Analysts Betting Big on Microsoft (MSFT) Stock at Record Highs
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Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not hold (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.
