Inpixon (NASDAQ:INPX) stock is taking off on Thursday despite a lack of news from the indoor intelligence company.
There haven’t been any new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is up today. On that same note, no analysts are offering new coverage that would cause the INPX stock to rally today.
Despite that, shares of INPX stock are rising higher alongside heavy trading on Thursday. As of this writing, close to 34 million shares of the company’s stock have changed hands. That’s a massive surge in trading compared to its daily average volume of about 11 million shares.
However, one thing investors will want to keep in mind is INPX’s penny stock status. This comes from the company’s low trading price of about 14 cents per share, as well as its market capitalization of only $10.079 million.
Why That Matters to INPX Stock
Being that INPX is a penny stock, it opens the company’s shares up to volatility. That’s doubly true outside of normal trading hours. Penny stocks are often the target of pump and dumps from retail and day traders. It’s possible that this could explain why the shares are rallying today without any news to report.
INPX stock is up 38% as of Thursday morning but was down 92.1% year-to-date when markets closed on Wednesday.
Investors looking for more of the most recent stock market news will want to keep reading!
InvestorPlace is home to all of the latest stock market stories worth reading about on Thursday! Among that is what has shares of Bionomics (NASDAQ:BNOX) stock on the rise, 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 Thursday
- Why Is Bionomics (BNOX) Stock Up 347% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- These 2 Salesforce Insiders Just Sold 25,000 Shares of CRM 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 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.
