Healthcare Triangle (NASDAQ:HCTI) stock is rocketing higher on Wednesday despite a lack of news from the healthcare information technology (IT) company.
There’s no new analyst coverage, press releases, or filings that explain why HCTI stock is rallying today. Instead, traders can thank heavy trading for the massive spike in shares on Wednesday.
As of this writing, more than 6 million shares of HCTI stock have changed hands. That’s an incredible surge compared to the company’s daily average trading volume of only about 37,000 shares.
Why Are Traders Taking Interest in HCTI Stock Today?
It seems likely that HCTI stock has been caught up in a penny stock rally this morning. The company matches this category with its low average trading volume, as well as its prior closing price of $3.26 and market capitalization of around $13 million.
That’s something investors will want to keep in mind before jumping into the HCTI rally happening right now. This movement could be the work of retail traders pumping the stock up before dumping it later. If that happens, it could leave some unlucky traders holding the bag.
Penny stocks are also incredibly volatile during pre-market trading. That’s when the massive rally traders are seeing today started. This means we might see the stock give up some of these gains after normal trading hours start.
HCTI stock is up 124.2% as of Wednesday morning.
Investors seeking more of the most recent stock market news will want to stick around!
We’ve got all of the hottest stock market coverage that traders need to know about on Wednesday! That starts with our biggest pre-market stock movers this morning, the latest news concerning SoFi (NASDAQ:SOFI) stock and more. You can find more on these matters at the following links!
More Wednesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- Dear SOFI Stock Fans, Mark Your Calendars for July 31
- NVDA Stock Price Prediction: Is Nvidia Really Worth $550?
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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.
