Volcon (NASDAQ:VLCN) stock is taking off on Thursday as shares of the electric power sport vehicles company experience heavy trading this morning.
This has more than 16 million shares of VLCN stock changing hands during pre-market hours today. That’s a massive leap over the company’s daily average trading volume of about 1.2 million shares.
Investors will note that today’s rally is an extension of one that started yesterday. That saw shares of VLCN stock rise 38.7%, with more than 16.3 million units changing hands during normal trading hours.
What’s Behind the VLCN Stock Rally
The surge in trading activity for Volcon shares came about after an update from new CEO John Kim. The tone of the update was positive with production of the Volcon Stag started and other manufacturing plans revealed.
All of this acted as a shot in the arm for VLCN stock yesterday and it looks like that movement is continuing into Thursday. However, the rally may not last.
Investors will keep in mind that VLCN is a penny stock. That means it can be incredibly volatile alongside news. The recent activity today could be a result of that, and the shares may give up much of their gains. This is something to keep in mind before taking a stake in Volcon.
VLCN stock is up 51.2% as of Thursday morning. It bears mentioning that the company’s shares were down 72.3% year-to-date yesterday when markets closed.
Investors seeking out even more of the latest stock market stories are in luck!
We have all of the hottest stock market news that traders need to know about on Thursday! Among that is what sending shares of Societal CDMO (NASDAQ:SCTL) stock higher, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the links below!
More Stock Market News for Thursday
- Why Is Societal CDMO (SCTL) Stock Up 133% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- PSNY Stock Alert: The $1 Billion Reason Polestar Is Up 20% Today
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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.
