Nvni (NASDAQ:NVNI) stock is rocketing higher on Wednesday despite a lack of news from the business-to-business software as a service (SaaS) company.
Nvni hasn’t published any new press releases or filings with the Securities and Exchange Commission (SEC) that give a reason for today’s rally. There also isn’t any new analyst coverage that explains why the stock is up today.
What we do know is that NVNI stock is experiencing incredibly heavy trading this morning. That has more than 4.7 million shares of the stock changing hands as of this writing. This is well over its daily average trading volume of about 20,000 shares.
One thing investors will want to keep in mind is that NVNI is a penny stock. Its low trading volume, a trading price of just $1.93 per share and market capitalization of only $53.57 million put it firmly in that category.
Why That Matters for NVNI Stock Today
Being a penny stock leaves NVNI shares open to certain vulnerabilities. That includes volatility that is often extreme outside of normal trading hours.
It’s possible that this movement could be part of a pump and dump of NVNI stock. If so, investors will want to avoid today’s rally as the shares could give up those gains without notice.
NVNI stock is up 63.7% as of Wednesday morning.
Investors looking for more of the most recent stock market stories are in the right place!
We have all of the hottest stock market news worth knowing about on Wednesday! That includes the biggest pre-market stock movers this morning, the latest news concerning Mullen Automotive (NASDAQ:MULN) stock and more. All of that news 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
- Why Is Mullen Automotive (MULN) Stock Up 10% Today?
- Want to Be an Oscar Mayer Wienermobile Driver? 5 Things to Know.
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.
