RiskOn International (NASDAQ:ROI) stock is rocketing higher on Wednesday as the gaming platform and metaverse company is experiencing heavy trading of its shares this morning.
That strong early morning trading has more than 21 million shares of ROI stock on the move as of this writing. That’s already well above its daily average trading volume of about 6.9 million shares.
That increased trading activity comes without any news from RiskOn International. There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain the rally. Additionally, there is no new analyst coverage of ROI stock that would act as a catalyst for today’s movement.
One thing traders will want to make note of is ROI being a penny stock. This comes from RiskOn International’s low closing price of 15 cents per share and market capitalization of only $528,665.
Why That Matters to ROI Stock
Penny stocks can often suffer manipulation from certain types of traders. These investors will pump up the price of the stock before dumping it for profits. This also is more likely to happen outside of normal trading hours.
It may be that this is what’s going on with ROI stock today. If so, it makes it a risky investment for traders as the shares could see a major downturn in the near future. Keep that in mind before taking a stake in the company.
ROI stock is up 14.8% as of Wednesday 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 Wednesday! Among that is what has shares of Meta Materials (NASDAQ:MMAT) stock up, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the links below!
More Stock Market News for Wednesday
- Why Is Meta Materials (MMAT) Stock Up 38% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- LOOP Stock Earnings: Loop Industries Misses EPS, Misses Revenue for Q3 2024
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.
