ZyVersa Therapeutics (NASDAQ:ZVSA) stock is rocketing higher on Monday alongside heavy pre-market trading of the clinical-stage biopharmaceutical company’s shares.
ZVA stock is seeing a lot of activity this morning with more than 12.4 million shares changing hands as of this writing. That’s well above its daily average trading volume of about 1 million shares. Investors will also note that ZyVersa Therapeutics’ float is about 1.22 million shares.
The massive trading volume comes without any news from ZyVersa Therapeutics. That includes a lack of press releases or filings. However, the company did announce new details regarding a white paper on Thursday.
Should You Buy ZVSA Stock?
That’s a tricky question to answer, as ZVSA is a penny stock. That means it can be incredibly volatile and a risky investment. It also means the shares could be manipulated by traders seeking to pump and dump them.
It’s possible this is what’s going on with ZVSA stock today. Its low float, market capitalization of just $3.71 million and prior closing price of 80 cents make it a prime trader for retail and day traders. That means investors will want to be wary about jumping into ZyVersa Therapeutics right now in case a retreat follows today’s rally.
ZVSA stock is up 37.3% as of Monday morning but was down 9% year-to-date when markets closed on Friday.
Investors who want even more of the most recent stock market news will want to stick around!
InvestorPlace is home to all of the hottest stock market stories that traders need to know about on Monday! That includes what’s going on with the biggest pre-market stock movers this morning, the latest details on the Magnificent Seven stocks and more. You can catch up on all of these matters at the following links!
More Monday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- Are Magnificent 7 Stocks Dead? The Analyst Behind the Moniker Thinks So.
- Jamie Dimon Is Selling JPMorgan (JPM) Stock. Should You?
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Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
