Meiwu Technology (NASDAQ:WNW) stock is rising higher on Thursday despite a lack of news from the Chinese e-commerce company.
There’s no 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 this rally.
However, investors will note that shares of WNW stock are seeing incredibly heavy trading today. As of this writing, more than 24 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 444,000 shares.
One thing traders will want to keep in mind is WNW’s penny stock status. This comes from its low trading price of 95 cents at yesterday’s close, as well as its market capitalization of just $9.614 million.
Why That Matters for WNW Stock
Penny stocks are often incredibly volatile without news. This is typically accompanied by heavy trading volume as retail and day traders pump up the shares. Unfortunately, that also often results in those same investors dumping the shares later, causing the price to plummet. Investors will want to keep that in mind before taking a stake in WNW stock today.
WNW stock is up 70% as of Thursday morning.
Investors looking for more of the most recent stock market news will want to stick around!
We have all of the hottest stock market stories traders need to know about on Thursday! Among that is what’s sending shares of Orchard Therapeutics (NASDAQ:ORTX) stock higher, 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 Orchard Therapeutics (ORTX) Stock Up 98% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Jim Cramer Is Pounding the Table on Chipotle (CMG) Stock
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.
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
