RVL Pharmaceuticals (NASDAQ:RVLP) stock is climbing higher on Friday despite a lack of news from the specialty pharmaceutical company.
There aren’t any new press releases of filings with the Securities and Exchange Commission (SEC) that explain why the shares are up today. On that same note, no analysts are offering new coverage of RVLP stock that would be behind today’s rally.
Even so, shares of RVLP stock are taking off with heavy trading today. As of this writing, more than 14 million shares of RVL Pharmaceuticals’ stock have changed hands. That’s already above its daily average trading volume of about 10.8 million shares.
This could be due to the fact that RVLP is a penny stock. This comes from the company’s low closing price of 11 cents yesterday, as well as its market capitalization of just $12.266 million.
Why That Matters to RVLP Stock
Penny stocks are often volatile without any news. This is typically the result of retail and day traders latching onto the shares for a pump and dump. That results in large gains that are often followed by quick drops shortly after.
Considering the large stock market movements RVLP stock is seeing today, along with the lack of news, it seems like this could be what’s happening with the company’s shares. This has the stock up 28.2% as of Friday morning.
Investors looking for even more of the most recent stock market stories are going to want to stick around!
We’re offering up all of the latest stock market news that traders need to know about on Friday! Among that is what has shares of Vaccinex (NASDAQ:VCNX) stock rising, 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 Friday
- Why Is Vaccinex (VCNX) Stock Up 26% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- This Experts Warns We’re Looking at a Stock Market Crash Like 1987
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.
