GSE Systems (NASDAQ:GVP) stock is rocketing higher on Friday despite a lack of news from the professional and technical engineering services company.
There are no new press releases from the company or filings with the U.S. Securities and Exchange Commission (SEC) that explain why the stock is up today. Likewise, analysts are offering no new coverage that would be behind today’s rally.
Despite that, shares of GVP stock are climbing higher with heavy trading this morning. As of this writing, more than 9.7 million shares have changed hands. To put that in perspective, the company’s daily average trading volume is only about 85,000 shares.
Another thing that investors will want to keep in mind about GVP is that it’s a penny stock. That comes from its low daily average trading volume as well as its market capitalization of just $7.4 million.
Why This Matters to GVP Stock
Penny stocks can be incredibly volatile, especially outside of normal trading hours. That’s due to their low entry points making them easy to manipulate. Oftentimes, retail and day traders pump up these types of stocks only to dump them later. That may be what’s going on with GVP shares today.
GVP stock is up 58.5% as of Friday morning.
Investors seeking more of the most recent stock market news for today will want to keep reading!
InvestorPlace is home to all of the hottest stock market stories worth reading about on Friday! That includes the biggest pre-market stock movers this morning, the latest news concerning chip stocks and more. All of that news is ready to go at the links below!
More Friday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- Why Are Chip Stocks NVDA, AMD, ARM Down Today?
- Are Insiders Giving Up on VinFast (VFS) Stock?
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.
