Lytus Technologies (NASDAQ:LYT) stock is on the rise Thursday despite a lack of news from the India-based platform services company.
There are no new press releases or filings with the U.S. Securities and Exchange Commission (SEC) that explain why shares of LYT stock are up today. On that same note, no analysts are offering new coverage on Thursday that would cause the stock to rally like it is.
Even without news, shares of LYT stock are climbing alongside heavy trading. This has more than 37 million shares changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 435,000 shares.
One thing investors will want to keep in mind is Lytus Technologies is a penny stock. That comes from its low prior closing price of just 9 cents and market capitalization of only $3.8 million.
Here’s Why That Matters to LYT Stock
Being a penny stock opens Lytus Technologies up to certain vulnerabilities. That includes potential manipulation by certain types of traders. This is more common outside of normal trading hours, like what’s happening with the shares this morning.
If LYT stock is being targeted for a pump and dump, investors will want to be careful about taking a stake in the company. While the shares are up now, it might not be long before they come back down again.
LYT stock is up 124.7% as of Thursday morning.
Investors looking for more of the most recent stock market stories are in luck!
We have all of the hottest stock market news that traders need to know about on Thursday! That includes the biggest pre-market stock movers this morning, the latest news concerning Ford (NYSE:F) stock and more. All of that is ready to go at the following links!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- UBS Just Issued a Critical Warning on Ford (F) Stock
- Why Are Stocks Down Today?
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.
