JX Luxventure (NASDAQ:JXJT) stock is rocketing higher on Thursday alongside heavy trading of the Chinese tourism services company’s shares.
This increased trading activity has more than 11.6 million shares of JXJT stock changing hands as of this writing. That’s a massive surge in trading volume compared to the Chinese company’s daily average of only about 6,000 shares.
Investors will note that this movement comes without any clear news from JX Luxventure. However, it also bears mentioning that Chinese stocks have been incredibly volatile recently.
Adding to this is JXJT being a penny stock. That comes from its low daily average trading volume, prior closing price of just $1.22 and market capitalization of only $7.4 million.
Why That Matters to JXJT Stock
Penny stocks often find themselves to be targeted by retail traders looking to pump and dump shares. That’s due to how easily their stock prices can be manipulated due to the low barrier to entry.
If that’s what’s going on with JXJT stock today, investors will want to steer clear. While the stock is rising right now, it might not be long before it comes crashing back down.
JXJT stock is up 380.2% as of Thursday morning.
Investors looking for more of the latest stock market stories are in luck!
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 Lockheed Martin (NYSE:LMT) stock and more. You can catch up on all of this news at the following links!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Biden Sends Lockheed Martin (LMT) Stock Falling With Slashed F-35 Order
- CCL Stock: Carnival Orders a New Cruise Ship for 2027
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 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.
