Shares of iCoreConnect (NASDAQ:ICCT) stock heading higher on Wednesday morning as the cloud-based software and technology company sees heavy trading.
This has more than 6.9 million shares of ICCT stock changing hands as of this writing. That’s a massive leap compared to its daily average trading volume of about 116,0o00 shares.
Investors will note that these reports aren’t based on recent news. No new press releases or filings with the Securities and Exchanges Commission (SEC) are behind the rally. The same is true for analyst coverage.
One thing that is worth keeping in mind is ICCT being in penny stock territory. This comes from its prior closing price of $1.13 per share and market capitalization of $10.112 million.
How This Affects ICCT Stock
Being a penny stock comes with certain problems. One of these is extra volatility. This often happens as certain types of traders try to manipulate a share’s price.
Considering the lack of news from iCoreConnect today, it’s possible this is what’s going on right now. If that’s the case, investors will want to be careful about taking a stake in the company. It might not be long before it gives up these gains.
ICCT stock is up 21.4% as of Wednesday morning.
Investors will find more of the most recent stock market stories below!
We are offering insight into all of the hottest stock market news on Wednesday! Among that is why shares of Marin Software (NASDAQ:MRIN) stock are up, the biggest pre-market stock movers and more. All of this info is available at the following links!
More Stock Market News for Wednesday
- Why Is Marin Software (MRIN) Stock Up 62% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- IBTA Stock IPO: When Does Ibotta Go Public? What Is the Ibotta IPO Price Range?
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.
