Meta Materials (NASDAQ:MMAT) stock is rocketing higher on Wednesday alongside extremely heavy trading of its shares this morning.
MMAT stock is seeing major movements during pre-market hours today. That has more than 54 million shares of the stock changing hands as of this writing. To put that in perspective, Meta Materials’ daily average trading volume is closer to 10.5 million shares.
It’s worth mentioning that this rally and heavy trading come without any clear news concerning the smart materials company. That includes a lack of press releases or filings from Meta Materials. There’s also no new analyst coverage of the stock that would cause today’s rise.
One thing that investors will want to keep in mind about Meta Materials is its penny stock status. That comes from its low closing price of 7 cents and a market capitalization of $40.99 million.
What That Means for MMAT Stock
Being a penny stock opens Meta Materials up to certain vulnerabilities. That includes manipulation by certain traders. That may be what’s happening with MMAT stock this morning.
If that’s true, investors will want to be careful about taking a stake in the company today. Penny stocks that rally without news are often targets of pump and dumps. That means unlucky investors could be stuck holding the bag.
MMAT stock is up 37.9% as of Wednesday morning.
There are more stock market stories worth reading about below!
We have all of the hottest stock market news ready to go on Wednesday! That includes a look at the biggest pre-market stock movers this morning, the latest news concerning the housing market and more. All of that info is ready to go at the links below!
More Wednesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- Should I Buy a House Now in 2024? Is It a Good Time?
- Tilray CEO Irwin Simon Is Buying Up TLRY Stock
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 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.
