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Why Is G Medical Innovations (GMVD) Stock Up 32% Today?

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  • G Medical Innovations (GMVD) stock is rising without news on Tuesday.
  • That includes no analyst updates, press releases or filings.
  • Even so, the stock is experiencing heavy trading this morning.
GMVD Stock - Why Is G Medical Innovations (GMVD) Stock Up 32% Today?

Source: Shutterstock / PopTika

G Medical Innovations (NASDAQ:GMVD) stock is on the rise Tuesday despite a lack of news concerning the mobile health and telemedicine solutions company.

There are no new press releases, or filings with the U.S. Securities and Exchange Commission (SEC), that explain today’s stock movement. Likewise, no analysts have offered new coverage recently that would result in today’s GMVD stock rally.

However, investors will note that shares of GMVD stock are seeing heavy trading on Tuesday. That has more than 6 million shares changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 372,000 shares.

One thing traders will keep in mind is that GMVD is a penny stock. This comes from its low market capitalization of just $1.355 million, as well as its prior closing price of only 18 cents per share.

Why That Matters to GMVD Stock

With GMVD being a penny stock, there are certain risks that traders face when investing in the company. That includes the unexplained volatility that’s happening today. It’s likely this is from retail and day traders pumping up the shares.

That might seem like a good thing at first and some investors may be tempted to jump on the rally. However, it also means the stock is likely going to give up this ground in the near future as those traders sell their shares. That could leave some unlucky investors holding the bag.

GMVD stock is up 31.8% as of Tuesday morning but is down 93.8% year-to-date (YTD) as of Monday’s close.

Investors can check out more of the latest stock market stories worth reading about below!

We’ve got all of the hottest stock market news that traders need to know about on Tuesday! Among that is why shares of Delcath Systems (NASDAQ:DCTH) stock is up, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the following links!

More Stock Market News for Tuesday

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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.


Article printed from InvestorPlace Media, https://investorplace.com/2023/08/why-is-g-medical-innovations-gmvd-stock-up-32-today/.

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