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Why IS G Medical Innovations (GMVD) Stock Up 34% Today?

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  • G Medical Innovations (GMVD) stock is rising with heavy trading.
  • That’s despite a lack of news on Tuesday.
  • The movement may be due to its penny stock status.
GMVD Stock - Why IS G Medical Innovations (GMVD) Stock Up 34% Today?

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G Medical Innovations (NASDAQ:GMVD) stock is climbing higher on Tuesday without any clear news from the healthcare company.

G Medical Innovations hasn’t put out any new press releases that explain why GMVD stock is up today. On that same note, there are no new filings with the U.S. Securities and Exchange Commission (SEC). Also, no analysts have weighed in on the company’s shares recently.

What is happening with GMVD stock today is the heavy trading of its shares. As of this writing, more than 9 million shares of the company’s stock have been traded. To put that in perspective, its daily average trading volume is around 978,000 shares.

One thing investors will want to note about this is that GMVD is a penny stock. That comes from its low closing price of 16 cents and market capitalization of $1.549 million.

What That Means for GMVD Stock

Being a penny stock, GMVD shares are susceptible to volatility. That’s especially true during pre-market trading hours. This could explain why investors are seeing massive gains from the stock today without any news.

However, that also comes with a word of warning. It could be that retail and day traders are pumping up the stock on Tuesday. If so, it might not be long before GMVD gives up these gains. That could leave some unlucky investors seeing red.

GMVD stock is up 33.7% as of Tuesday morning.

There’s more stock market news ready to go below!

We’ve got all of the hottest stock market news that traders need to know about on Tuesday! Among that is what has shares of Axcella Health (NASDAQ:AXLA) stock rocketing higher, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the links below!

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-34-today/.

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