There are no new press releases worth mentioning, and the company hasn’t made any recent filings with the Securities and Exchange Commission (SEC). Likewise, no analysts are offering new coverage of the stock today that would cause this rally.
However, investors will note that shares of SNES stock are seeing incredibly heavy trading this morning. As of this writing, more than 7.7 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 134,000 shares.
Investors will also note that SNES is a penny stock. That comes from its low closing price of 35 cents and market capitalization of just $784,451.
What That Means for SNES Stock
Investors looking to invest in SNES stock alongside today’s movement will want to be careful. The rally is likely caused by retail and day traders pumping up the company’s shares. That means the stock is likely to dip again soon, and unfortunate investors could be left holding the bag.
SNES stock is up 47.1% as of Monday morning.
Investors seeking out even more of the most recent stock market stories are in luck!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Monday! That includes the biggest pre-market stock movers this morning, the latest news concerning Lilium (NASDAQ:LILM) and more. All of that news is ready to go at the links below!
More Monday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- LILM Stock Alert: Lilium Announces Partnerships to Boost eVTOL Production
- Stock Market Alert: Black Swan Investor Warns of ‘Biggest Debt Bubble in History’
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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.