Shineco (NASDAQ:SISI) stock is on the rise Tuesday without any clear news from the company this morning.
Instead, it looks like traders can point to increased activity as the reason for today’s rally. As of this writing, more than 15.5 million shares of SISI stock have been traded. That’s a massive jump when compared to the company’s daily average trading volume of about 1 million shares.
Investors will note that this massive amount of trading comes despite a lack of press releases or filings from the plant-based health goods company. In that same vein, there’s no new analyst coverage that coincides with today’s SISI stock rally.
However, that doesn’t mean we don’t know why SISI stock is climbing higher today. Investors will keep in mind that Shineco is a penny stock. That comes from its low closing price of 14 cents yesterday as well as its market capitalization of just around $3 million.
Why That Matters for SISI Stock
Penny stocks can be incredibly volatile. That’s doubly true during pre-market and after-market trading. It means today’s stock movement is likely due to retail and day traders pumping up shares of SISI stock. If that’s the case, investors can expect the company’s shares to give up its recent gains in the coming days.
SISI stock is up 40.1% as of Tuesday morning but down 93.6% year-to-date (YTD) as of Monday’s close.
There’s even more stock market news traders will want to read about below!
We have all of the hottest stock market news that investors need to know about on Tuesday! Among that is what has shares of Tivic Health Systems (NASDAQ:TIVC) stock up today, 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
- Why Is Tivic Health Systems (TIVC) Stock Up 112% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- MULN Stock Alert: Mullen Receives Purchase Order From NRTC Automation
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 risks.
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.
