OneMedNet (NASDAQ:ONMD) stock is taking off on Monday despite a lack of news from the health data sharing technology company.
There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is rising today. The same is true for coverage from analysts.
One thing that investors will note is the heavy trading that ONMD stock is experiencing on Monday morning. That has more than 14 million shares of the stock changing hands as of this writing. That’s already well above the company’s daily average trading volume of about 124,000 shares.
It’s worth mentioning that ONMD is a penny stock. That comes from its low prior closing price of 51 cents per share and its market capitalization of just $16.48 million.
Why That Matters for ONMD Stock
Being a penny stock means that OneMedNet is open to certain vulnerabilities. That includes extreme volatility, as certain types of traders may choose to manipulate the shares.
It’s possible that this is what’s happening today with the heavy trading volume, even without news. If so, that makes ONMD stock a risky investment right now. It likely won’t be long before it gives up the gains it’s seeing this morning.
ONMD stock is up 169.3% as of Monday morning.
Investors looking for more of the most recent stock market stories are in luck!
We have all of the hottest stock market news worth reading about on Monday! That includes what’s happening with the biggest pre-market stock movers this morning, the latest news on FuelCell (NASDAQ:FCEL) stock and more. You can catch up on these matters at the links below!
More Monday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- BlackRock Cut Its Stake in FuelCell Energy (FCEL) Stock
- 5 Stocks That Legendary Firm Baillie Gifford Just Bought and Sold
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.
