Jiuzi (NASDAQ:JZXN) stock is rocketing higher on Thursday despite a lack of news from the new energy vehicles sales company.
Instead of a press release or filing, it looks like heavy trading is behind today’s movement. As of this writing, more than 5.9 million shares of the company’s stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 114,000 shares.
One thing that investors will want to keep in mind is Jiuzi’s low share price and market capitalization. These come in at $2.79 per share and $7.262 million during the prior close of trading. Both of these put JZXN in penny stock territory.
Why That Matters for JZXN Stock
Penny stocks can be incredibly volatile. That’s double true outside of normal trading hours. This is due to the ability of certain traders to come together and buy and sell shares. This lets them manipulate the price of the stock and pump it higher.
Of course, that means investors have to be wary about investing in penny stocks when they are seeing wild movement like today. While JZXN stock is up now, there’s no guarantee it will stay that way for long.
JZXN stock is up 70.6% as of Thursday morning.
Investors seeking more of the latest stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Thursday! That includes the biggest pre-market stock movers this morning, the latest news concerning shares of AltC Acquisition (NYSE:ALCC), and more. You can catch up on all of this news at the links below!
More Stock Market News for Thursday
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- ALCC Stock: The New ChatGPT Is About to Start Trading
- Why Is Ault Alliance (AULT) Stock Up 60% 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 risk.
Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
