Intelligent Living (NASDAQ:ILAG) stock is rocketing higher on Thursday despite a lack of news from the mechanical locksets manufacturing company.
There are no press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is up today. No analyst coverage is pushing the shares higher, either.
What is happening with ILAG stock today is the heavy trading of its shares. More than 7 million shares of the company’s stock changed hands during pre-market trading today, well above its daily average trading volume of about 575,000 shares.
Investors will also note that ILAG is a penny stock. This comes from its prior closing price of 54 cents and its market capitalization of just $9.752 million.
What This Means for ILAG Stock
Being a penny stock means ILAG shares are more susceptible to manipulation and volatility. That might explain why the shares are rising with heavy trading today and no news.
Another thing to keep in mind about Intelligent Living is its low trading price. Being under $1 per share puts it in danger of being delisted. The company just got an extension from the Nasdaq Exchange last week that gives it until Oct. 14, 2024, to fix this issue.
ILAG stock is up 56.3% as of Thursday morning. The shares were down 25% year-to-date when markets closed yesterday.
Investors will find more of the most recent stock market stories ready to go below!
We have all of the hottest stock market news worth reading about on Thursday! That includes the biggest pre-market stock movers this morning, the latest news for electric vehicle (EV) stock and more. All of that info is available at the following links!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- 3 EV Stocks to Buy ASAP Before Demand Ramps Right Back Up
- Ground Beef Recalls: What to Know About Nationwide Recalls Due to E. Coli
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.
