Ebet (NASDAQ:EBET) stock is taking off on Wednesday despite a lack of news from the online gambling company.
There’s been no new press release from the company or filing with the Securities and Exchange Commission (SEC) that explains today’s rally. Likewise, no analysts have weighed in on the stock recently.
Despite all of that, shares of EBET stock are seeing a massive amount of trading this morning. As of this writing, more than 87 million shares of the stock are changing hands. That’s quite the leap compared to the company’s daily average trading volume of about 10 million shares.
Investors following EBET stock will note it has been volatile recently. For example, the stock fell 15% during Tuesday’s trading alongside over 79 million shares being traded. Yet again, there was no news yesterday to spark this movement.
What’s Going On With EBET Stock?
One thing that traders will want to keep in mind is the current state of Ebet’s business. Just a couple of weeks ago, the company created a Strategic Alternatives Committee to explore strategic alternatives. That could include a merger, sale, or other transaction for the company. This is all with the goal of maximizing the value of the company’s shares and portfolio.
EBET stock is up 44.8% as of Wednesday morning. However, the stock is down 94.9% since the start of the year.
Investors looking for even more stock market news will want to keep reading!
InvestorPlace has all of the hottest stock market coverage traders need to know about on Wednesday! That includes the biggest pre-market stock movers this morning, the latest news concerning rising credit card debt, and more. You can find out all about these matters at the links below!
More Wednesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- Credit Card Debt Surpasses $1 Trillion. Is This a Ticking Time Bomb for Investors?
- ACHR Stock Alert: Archer Aviation Courts Visit from U.S. Marines
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.
