OLB Group (NASDAQ:OLB) stock is heading higher on Monday alongside heavy pre-market trading of the transaction processing services company’s shares this morning.
As of this writing, more than 1.9 million shares of OLB stock have changed hands. That’s already well above the company’s daily average trading volume of only about 53,000 shares.
This movement comes without any news from OLB Group. That includes no press releases or filings with the Securities and Exchange Commission (SEC). There’s also no new analyst coverage explaining the OLB stock rally this morning.
It is worth noting that OLB is a penny stock. This comes from its low daily average trading volume, a prior closing price of 33 cents per share and a market capitalization of only $5.971 million.
What That Means for OLB Stock Today
Being a penny stock opens OLB shares up to certain vulnerabilities. That includes volatility as certain types of traders try to manipulate the stock. This could be what’s happening this morning, considering the lack of news and heavy trading.
Keeping that in mind, this makes OLB stock a risky investment today. It might not be long before the pump ends and the dump begins.
OLB stock is up 27.2% as of Monday morning. However, the shares were down 67% year-to-date when markets closed on Friday.
We have even more stock market stories traders will want to read about today!
InvestorPlace is home to all of the hottest stock market news for Monday! Among that is what has shares of Moolec Science (NASDAQ:MLEC) stock up, the biggest pre-market stock movers this morning and more. All of this info is ready to go at the following links!
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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.
