Ascent Solar Technologies (NASDAQ:ASTI) stock is rising higher on Thursday despite a lack of news from the solar power company.
That includes no press releases or filings with the Securities and Exchange Commission (SEC) in recent days. In addition to that, there hasn’t been any new analyst coverage that would explain why the shares are rallying today.
Instead, traders have to look toward the stock’s trading volume to understand today’s price gains. As of this writing, more than 16 million shares of the company’s stock have changed hands. That’s incredibly strong trading compared to ASTI stock’s daily average of 2.1 million units.
Investors will also note that this isn’t the first day of heavy trading that has left ASTI shares volatile. The stock also saw more than 12 million shares trade on Wednesday. That resulted in the stock rising and falling during normal trading hours yesterday. However, it close out the day only up 2.1%.
What’s Behind This ASTI Stock Movement?
ASTI being a penny stock, likely explains why its shares are seeing so much activity lately. It’s not hard for retail and day traders to pick out penny stocks to pump up. When they do, the heavy trading sends shares higher as other investors jump in. However, the stock typically loses its value as retail and day traders dump it for other quick investments.
ASTI stock is up 20.8% as of Thursday morning.
Investors looking for more of the most recent stock market news will want to keep reading!
We have all of the latest stock market stories traders need to read about on Thursday! Among that is why shares of Tivic Health Systems (NASDAQ:TIVC) stock are up, the biggest pre-market stock movers this morning, and more. All of that news is ready to go below!
More Stock Market News for Thursday
- Why Is Tivic Health Systems (TIVC) Stock Up 45% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- 5 Investors Betting Big on Nio (NIO) Stock in Q2
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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.
