Charge Enterprises (NASDAQ:CRGE) stock is heading higher on Thursday despite a lack of news from the electric vehicle (EV) charging infrastructure company.
Instead, heavy trading seems to be what has shares of CRGE stock rising today. As of this writing, more than 37 million shares have changed hands. To put that in perspective, CRGE’s daily average trading volume is closer to 14 million shares.
All of this movement comes without any new press releases or filings from Charge Enterprises. There also isn’t any analyst commentary that would cause today’s rally for CRGE stock.
One thing that investors will keep in mind is Charge Enterprises is a penny stock. That comes from its low prior closing price of 15 cents per share and market capitalization of around $31 million.
Why That Matters to CRGE Stock
Penny stocks can often be volatile as certain traders pump and dump the shares. Investors typically see this happen outside or normal trading hours.
If CRGE stock is getting pumped this morning, then investors will want to be careful about taking a stake in the company’s shares right now. It might not be long before the price of the stock comes crashing back down.
CRGE stock is up 33.5% as of Thursday morning.
Investors seeking out even more of the most recent stock market stories are going to want to stick around!
We have all of the hottest stock market news that traders need to know about on Thursday! Among that is what’s happening with C3is (NASDAQ:CISS) stock, 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 C3is (CISS) Stock Up 36% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Microsoft (MSFT) Stock Just Touched a $3 Trillion Market Cap. Who Will Be Next?
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.
