JanOne (NASDAQ:JAN) stock is on the rise Thursday despite a lack of news from the clinical-stage biopharmaceutical company.
There haven’t been any news press releases of filings with the U.S. Securities and Exchange Commission (SEC) from the company that would cause today’s rally. On that same note, no analysts are offering news coverage that would explain why the stock is rising on Thursday.
Even so, shares of JAN stock are climbing higher alongside heavy trading this morning. As of this writing, more than 2.5 million shares have changed hands. This is well above its daily average trading volume of about 284,000 shares.
Investors will keep in mind that JAN is a penny stock. That comes from its prior closing price of only 32 cents and market capitalization of just $1.3 million.
What That Means for JAN Stock
Being a penny stock means that JAN is vulnerable to manipulation. The low market cap and stock price make it easy for retail and day traders to pump up the shares for gains. However, those traders will sell the stock for profit, which means JanOne is likely to give up the rise it hs seen today in the near future.
JAN stock is up 40.1% as of Thursday morning and down 78.2% year-to-date (YTD) as of yesterday’s close.
Investors seeking out even more of the most recent stock market news will want to keep reading!
We’re covering all of the hottest stock market stories traders need to know about on Thursday! Among that is what’s moving shares of Intelligent Bio Solutions (NASDAQ:INBS) stock, the biggest pre-market stock movers this morning and more. All of that news is ready to go down below!
More Stock Market News for Thursday
- Why Is Intelligent Bio Solutions (INBS) Stock Up 56% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- 10 AI Stocks Set to Become Trillion-Dollar Companies
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 risks.
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.
