Ainos (NASDAQ:AIMD) stock is on the rise Friday despite a lack of news from the medical technologies company.
There have been no new press releases or filings with the U.S. Securities and Exchange Commission (SEC) that explain why AIMD stock is climbing today. Likewise, no analysts have offered up new coverage of the stock recently.
Instead, it looks like investors can thank heavy trading as the reason for today’s rally. As of this writing, more than 3.5 million shares of AIMD stock have changed hands. That’s already well above its daily average trading volume of only about 17,000 shares.
That low daily average trading volume is one thing investors will want to keep in mind. Especially combined with the stock’s prior closing price of 73 cents per share and the company’s market capitalization of around $14 million.
Why It Matters for AIMD Stock
All of these factors firmly place AIMD as a penny stock. That’s something investors will want to note, as it means the stock is more subject to volatility. This is doubly true outside of normal trading hours, such as this morning.
Penny stocks are easy for certain types of traders to manipulate. That has many investors getting pumped up in pre-market trading, only for them to lose much of that momentum throughout normal trading hours. That might be what happens with AIMD stock today.
AIMD stock is up 82.2% as of Friday morning.
Investors can find even more of the most recent stock market news ready to go below!
We have the latest stock market coverage that traders need to read about on Friday! Among that is what has Frequency Therapeutics (NASDAQ:FREQ) stock up, the biggest pre-market stock movers this morning and more. You can find all of this news at the following links!
More Stock Market News For Friday
- Why Is Frequency Therapeutics (FREQ) Stock Up 44% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- Why Is Nikola (NKLA) Stock Up 50% Today?
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 risks.
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.