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
- Why Is Trxade Health (MEDS) Stock Up 230% Today?
- Why Is AgriForce Growing (AGRI) Stock Up 218% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
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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.
