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Why Is Secoo (SECO) Stock Up 703% Today?

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  • Secoo (SECO) stock is seeing a major rally on Thursday.
  • That’s despite a lack of news from the company.
  • However, shares of SECO are experiencing heavy trading today.
SECO Stock - Why Is Secoo (SECO) Stock Up 703% Today?

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Secoo (NASDAQ:SECO) stock is experiencing a massive rally on Thursday despite a lack of news from the Chinese shopping company.

There are no new press releases or filings with the Securities and Exchange Commission (SEC) that would explain why SECO stock is up today. On that same note, no analysts are offered new coverage that would act as a catalyst for today’s rally.

Even so, shares of SECO stock are seeing an incredible amount of trading on Thursday! As of this writing, more than 14 million shares of the company’s stock have changed hands. That’s already well above Secoo’s daily average trading volume of about 326,000 shares.

What to Know About SECO Stock Today

While today’s rally may make SECO stock a tempting investment today, investors will want to be wary of taking a stake in the company. This rally is likely the result of retail and day traders pumping the company’s shares higher.

This is something we see happen from time to time with penny stocks. It’s possible due to SECO’s low closing price of 32 cents on Wednesday, alongside its market capitalization of just $2.262 million.

Considering the rise SECO has seen so far on Thursday, it wouldn’t be surprising for it to give up these gains throughout the day. Any investment with such volatility is a significant risk that traders will want to avoid.

SECO stock is up 702.6% as of Thursday morning.

There are even more stock market stories that traders will want to read about below!

We’re offering up all of the hottest stock market coverage that investors need on Wednesday! Among that is what’s going on with shares of OpGen (NASDAQ:OPGN) stock, the biggest pre-market stock movers this morning and more. All of that news is available at the following links!

More Stock Market News for Thursday

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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.


Article printed from InvestorPlace Media, https://investorplace.com/2023/10/why-is-secoo-seco-stock-up-703-today/.

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