Moolec Science (NASDAQ:MLEC) stock is getting a boost on Thursday despite a lack of news from the science-based food ingredient company.
There are no new press releases or filings with the U.S. Securities and Exchange Commission (SEC) that explain why the stock is rising today. On that same note, no analysts are offering new coverage that would give a reason for today’s rally.
Even without news, the company’s shares are experiencing heavy trading on Thursday. As of this writing, more than 6.8 million shares have changed hands. That’s a massive jump compared to the daily average trading volume of around 5,000 shares for MLEC stock.
One thing that investors will want to keep in mind is Moolec being a penny stock. That comes from its low trading volume, closing price of around $2 and market capitalization of about $85 million.
What That Means for MLEC Stock
Being a penny stock opens Moolec Science up to certain vulnerabilities. That includes manipulation from certain traders that would seek to pump and dump its shares.
Considering the wild movement MLEC stock is seeing today, a pump may be underway. If so, investors will want to avoid taking a stake in shares right now to avoid that potential dump.
MLEC stock is up 40.4% as of Thursday morning.
Investors looking for more of the most recent stock market stories are in the right place!
InvestorPlace is home to all of the hottest stock market stories traders need to know about on Thursday! Among that is what’s happening with Atreca (NASDAQ:BCEL) stock, the biggest pre-market movers this morning and more. All of that news is available at the following links!
More Stock Market News for Thursday
- Why Is Atreca (BCEL) Stock Up 85% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- MULN Stock: Mullen Seeks $50 Million Loan from Department of Energy
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.
