NeuBase Therapeutics (NASDAQ:NBSE) stock is taking off on Wednesday despite a lack of news from the preclinical biopharmaceutical company.
There are no new press releases from NeuBase Therapeutics or filings with the U.S. Securities and Exchange Commission (SEC) that explain why the stock is up today. Likewise, there is no new analyst coverage that would cause the stock to rally this morning.
Even so, investors in NBSE stock are seeing incredibly heavy trading of the shares on Wednesday morning. As of this writing, more than 4.7 million shares have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 334,000 shares.
Of course, there are a few pieces of information that investors will want to keep in mind before jumping into the NBSE stock rally. That includes the fact that the company announced last month that it’s exploring strategic alternatives. It did so while also putting its programs on halt.
Another NBSE Stock Warning
In addition to all of this, investors will note that NBSE stock closed out Tuesday at $1.15 per share. To go along with that, NeuBase Therapeutics’ market capitalization is around $3.5 million. Both of these factors firmly set it as a penny stock.
That matters because penny stocks can be overly volatile. This is especially true outside of normal trading hours. That could help explain why the stock is rallying in early morning trading today. It also means the stock could give up those gains soon, making it a risky investment.
NBSE stock is up 19% as of Wednesday morning but down 69.7% since the start of the year.
Investors seeking out more of the most recent stock market news will want to stick around!
We’re offering up all of the hottest stock market news that traders need to know about on Wednesday! That includes the biggest pre-market stock movers this morning, the latest news concerning rising gas prices and more. All of that news is available at the following links!
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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.
