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Why Is Meiwu Technology (WNW) Stock Up 55% Today?

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  • Meiwu Technology (WNW) stock is rising higher alongside heavy trading.
  • That’s despite a lack of news from the company.
  • This could be due to WNW stock being a penny stock.
WNW Stock - Why Is Meiwu Technology (WNW) Stock Up 55% Today?

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Meiwu Technology (NASDAQ:WNW) stock is rocketing higher on Tuesday despite a lack of news from the Chinese online and mobile commerce company.

There have been no new press releases or filings with the U.S. Securities and Exchange Commission (SEC) that explain why the stock is up today. Likewise, there’s no new analyst coverage that would act as a catalyst for this rally.

Even so, shares of WNW stock are on the rise alongside heavy trading of the shares. This has more than 7.7 million shares changing hands as of this writing. That’s already well above its daily average trading volume of about 3 million shares.

Investors will want to keep in mind that WNW is a penny stock. This comes from its low closing price of 9 cents yesterday alongside its market capitalization of roughly $9 million.

Why That Matters for WNW Stock

Being a penny stock opens WNW shares up to volatility. That’s doubly true outside of normal trading hours.

That volatility is often caused by retail and day traders pumping up the penny stock for profits. However, jumping in now could leave investors seeing red as these traders are likely to dump the shares in the near future.

WNW stock is up 21% as of Tuesday morning.

Investors seeking more information about the latest stock market stories are in luck!

We’re offering up all of the latest stock market news that traders need to know about on Tuesday! That includes the biggest pre-market stock movers, the latest news concerning CommScope (NASDAQ:COMM) stock and more. All of that news is ready to go down below!

More Tuesday Stock Market News

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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.


Article printed from InvestorPlace Media, https://investorplace.com/2023/10/why-is-meiwu-technology-wnw-stock-up-55-today/.

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