Why Is Ebet (EBET) Stock Up 36% Today?


  • Ebet (EBET) stock is rising despite a lack of news on Wednesday.
  • That comes alongside heavy trading of its shares.
  • Investors will remember the company is considering strategic alternatives.
EBET Stock - Why Is Ebet (EBET) Stock Up 36% Today?

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Ebet (NASDAQ:EBET) stock is taking off on Wednesday despite a lack of news from the online gambling company.

Traders of EBET stock are seeing the shares rallying without any new press releases or filings with the Securities and Exchange Commission (SEC). There’s also no new analyst coverage of the stock that explains why the shares are rising.

Instead, investors can look to heavy trading as the reason EBET stock is up today. As of this writing, more than 115 million shares of the company’s stock have changed hands. For the record, its daily average trading volume is about 27 million shares.

Recent EBET Stock News

One thing investors will want to remember is that Ebet is considering strategic alternatives. The company announced this a few weeks ago as part of a plan to maximize its portfolio. The company notes that this could result in the merger or sales of the business, as well as other options.

Investors will also keep in mind that EBET is a penny stock. That comes from its market capitalization of just $1.702 million and its prior trading price of only 4 cents. That means it’s subject to volatility as retail and day traders can easily take large stakes in the company.

EBET stock is up 36.4% as of Wednesday morning but was down 92.5% year-to-date when markets closed yesterday.

Investors seeking out more of the most recent stock market news are in luck!

InvestorPlace is home to all of the hottest stock market news traders need to know about on Wednesday! Among that is what has shares of Novo Integrated Sciences (NASDAQ:NVOS) stock 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 Wednesday

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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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/08/why-is-ebet-ebet-stock-up-36-today/.

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