Intelligent Living Application (NASDAQ:ILAG) stock is heading higher on Friday with heavy trading of the mechanical lockset company’s shares this morning.
That has more than 4.5 million shares of ILAG stock changing hands as of this writing. This is already well above its daily average trading volume of roughly 95,000 shares.
It’s worth pointing out that this movement comes despite a lack of news from Intelligent Living Application. There are no new press releases or filings from the company that would cause today’s rally. On that same note, no analysts are offering new coverage of ILAG stock this morning.
What is worth keeping in mind is ILAG being a penny stock. That comes from its low prior closing price of 47 cents per share, low daily average trading volume and market capitalization of about $8.5 million.
What This Means for ILAG Stock
The fact that ILAG is a penny stock makes it more susceptible to extreme volatility. That’s doubly true outside or normal trading hours. This is typically due to retail and day traders pumping up the shares.
With that said, investors will want to be careful about taking a stake in ILAG stock along with this rally. It might not be long before traders dump their shares and the stock’s price comes crashing back down.
ILAG stock is up 78.4% as of Friday morning.
Investors looking for all of the latest stock market stories are in the right place!
We are offering coverage of all the most recent stock market news worth reading about on Friday! Among that is what has shares of Next eGo (NASDAQ:EGOX) stock up, the biggest pre-market stock movers this morning and more. You can read all of that news at the following links!
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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.