Greenbrook TMS (NASDAQ:GBNH) stock is rocketing higher on Wednesday alongside heavy trading of the operator of mental health services centers’ shares this morning.
As of this writing, more than 18.9 million shares of GBNH stock have changed hands. That’s already well above the daily average trading volume of 506,000 shares for the company’s stock. It also bears mentioning that the float for Greenbrook TMS shares is around 13.12 million units.
Investors will note that this increased trading activity today comes without any news from the company. That includes a lack of press releases or filings. There’s also no new analyst coverage that would cause GBNH stock to rally this morning.
One thing that traders will want to keep in mind is GBNH stock’s penny status. That comes from its prior closing price of 19 cents and its market capitalization of about $8.3 million.
What This Means for GBNH Stock
Being a penny stock opens GBNH up to certain vulnerabilities. That includes volatility as certain traders try to manipulate its share price.
This could be what’s happening this morning, considering the lack of news and heavy trading of Greenbrook TMS stock. That means traders will want to be wary about investing in GBNH right now as a dip is likely to follow this rally.
GBNH stock is up 174.1% as of Wednesday morning.
Investors looking for all of the latest stock market stories are in luck!
We have all of the hottest stock market news worth reading about on Wednesday! That includes a look at the biggest pre-market stock movers this morning, a recap on yesterday’s stock market activity 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
- Why Are Stocks Down Today?
- Why Is Intuitive Machines (LUNR) Stock Up 50% Today?
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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.
