Hitek Global (NASDAQ:HKIT) stock is rocketing higher on Thursday despite a lack of news from the company and heavy trading of its shares.
HKIT stock is rallying this morning as more than 16 million of the company’s shares trade hands. That’s a massive surge in trading volume compared to its daily average of about 273,000 shares.
It’s also worth mentioning that Hitek Global hasn’t put out any new press releases or filings that would cause today’s rally. Even so, that doesn’t mean investors don’t have reason to be excited.
Hitek Global had a general shareholder meeting scheduled for Monday. A focus of the meeting was approval for new directors, as well as a reverse stock split. While the results of that meeting haven’t been announced yet, it could be affecting HKIT stock today.
What to Know About HKIT Stock
Hitek Global is a Chinese information technology company that serves various sectors in China. It was founded in 1996, operates out of Xiamen and has roughly 60 employees.
Chinese stocks have been seeing strong rallies throughout the week as the market recovers. This may be another factor that is affecting HKIT stock today.
HKIT stock is up 518.4% as of Thursday morning.
Investors seeking out even more of the most recent stock market stories are in the right place!
We have all of the hottest stock market news worth reading about on Thursday! That includes the biggest pre-market stock movers this morning, the latest news concerning Super Bowl stocks and more. You can catch up on all of that at the links below!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- 3 Winning Stocks to Buy Ahead of the Super Bowl
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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.
