Save Foods (NASDAQ:SVFD) stock is rocketing higher on Monday despite a lack of news from the food treatment company.
There have been no new press releases or filing with the Securities and Exchange Commission (SEC) that explain the rise in SVFD stock today. Additionally, no analysts have provided new coverage of the company that would act as a catalyst for today’s rally.
Even so, investors will note that shares of SVFD stock are seeing heavy trading on Monday morning. As of this writing, more than 5.3 million shares of the company’s stock have changed hands. That’s already well above its daily average trading volume of about 172,000 shares.
Investors will also note that this isn’t the first day of this rally for SVFD stock. The company’s shares also saw extreme movement on Friday when some 6.3 million shares traded, and the stock rallied about 15%.
What to Know About SVFD Stock
Before investors try to jump into the SVFD stock rally, they should know it’s a penny stock. This comes from its low price of 64 cents per share at Friday’s close, as well as its market capitalization of $3.727 million.
This is important to keep in mind, as penny stocks can be incredibly volatile. That’s especially true during pre-market trading. This is due to certain investors using the off hours to manipulate share prices with heavy trading. That may be what’s happening this morning.
SVFD stock is up 127.5% as of Monday morning.
Investors looking for even more stock market news are in luck!
We have all of the hottest stock market news traders need to know about on Monday! That includes the biggest pre-market stock movers this morning, the latest news concerning shares of Digital World Acquisition (NASDAQ:DWAC) stock, and more. You can find all of that news at the links below!
More Monday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- Donald Trump’s Third Indictment Is a Death Sentence for DWAC Stock
- Rite Aid Short Squeeze Takes RAD Stock 6% Higher
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.
