HWH International (NASDAQ:HWH) stock is rocketing higher on Thursday despite a lack of news from the health, wealth, and happiness marketplace company.
There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why HWH stock is up today. There also isn’t any new analyst coverage that would cause the shares to rally as they are.
What is happening is heavy trading of HWH stock. As of this writing, more than 5.9 million shares of HWH have changed hands. That’s a massive increase compared to the company’s daily average trading volume of about 165,000 shares.
It’s also worth mentioning that HWH is a penny stock. This comes from its prior closing price of $1.57 per share and market capitalization of $25.471 million.
Why That Matters to HWH Stock?
Being a penny stock comes with certain disadvantages. That includes trouble with day and retail traders manipulating the price. This is possible due to the low entry point.
If that’s what is happening this morning, it could mean HWH stock will give up this morning’s gains soon. This type of volatility is one of the disadvantages that penny stocks face.
HWH stock is up 54.8% as of Thursday morning but was down 58.9% when markets closed yesterday.
Investors looking for more of the most recent stock market stories are in luck!
We have all of the hottest stock market news that traders need to know about on Thursday! That includes the biggest pre-market stock movers this morning, the latest news on Tilray Brands (NASDAQ:TLRY) stock and more. All of that info is ready to go at the links below!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Why Is Tilray (TLRY) Stock Up 18% Today?
- Needham Is Pounding the Table on SoFi (SOFI) Stock
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 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.
