Why Is Universe Pharmaceuticals (UPC) Stock Down 29% Today?


  • Universe Pharmaceuticals (UPC) stock is falling on Tuesday following a recent rally.
  • The company’s shares close out Friday up almost 44% with heavy trading.
  • Now the shares are giving up those recent gains this morning.
UPC Stock - Why Is Universe Pharmaceuticals (UPC) Stock Down 29% Today?

Source: DeZet / Shutterstock.com

Universe Pharmaceuticals (NASDAQ:UPC) stock is falling on Tuesday after the company’s shares experienced a rally during the prior day of trading.

Shares of UPC closed out Friday up 43.9% without any clear news from the traditional Chinese medicine company. Instead, the rally came as more than 716,000 shares changed hands when normal trading hours ended. For comparison, the company’s daily average trading volume is well below that at roughly 95,000 shares.

Chinese stocks have seen volatility recently and it’s possible this movement was tied to that. It could also be the actions of certain traders trying to pump and dump shares of UPC stock for profits. One thing also worth keeping in mind is that the company’s float is sitting at about 1.55 million shares.

What This Means for UPC Stock Today

Universe Pharmaceuticals shares are giving up the bulk of the gains they garnered on Friday. That has the stock trading for about $1.81 per share during pre-market trading today. Investors will note that UPC stock was trading for $1.72 per share before Friday’s unexpected rally.

UPC stock is down 28.5% as of Tuesday morning. The stock was up 30.9% year-to-date (YTD) when markets closed on Friday.

Investors who are seeking out even more of the most recent stock market stories are going to want to keep reading!

We are offering up all of the latest stock market news that traders need to know about on Tuesday! A few examples include why shares of Trxade Health (NASDAQ:MEDS) and AgriForce Growing (NASDAQ:AGRI) stock are rallying, as well as the biggest pre-market stock movers this morning. You can catch up on all of these topics at the following links!

More Tuesday Stock Market News

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.

Article printed from InvestorPlace Media, https://investorplace.com/2024/02/why-is-universe-pharmaceuticals-upc-stock-down-29-today/.

©2024 InvestorPlace Media, LLC