XTI Aerospace (NASDAQ:XTIA) stock is on the rise Tuesday alongside heavy trading of the vertical takeoff airplane manufacturing company’s shares.
This has more than 6.2 million shares of the company’s stock changing hands as of this writing. That’s already well above its daily average trading volume of about 238,000 shares.
It’s worth noting that this movement comes without any recent news from XTI Aerospace. That includes a lack of press releases or filings with the Securities and Exchange Commission (SEC). There’s also no new analyst coverage to talk about.
What is worth mentioning is XTI Aerospace’s status as a penny stock. That comes from its low market capitalization of $20.16 million and prior closing price of $2.06 per share.
Why This Matters to XTIA Stock
Being a penny stock means that some traders might be manipulating the price of XTIA shares this morning. The low entry price makes it easy enough for groups to get together and do this.
This seems possible, considering the heavy trading and lack of news today. That also means it’s likely that XTIA will fall after today’s rally. This makes it a risky bet for investors.
XTIA stock is up 88.8% as of Tuesday morning.
There are more stock market stories traders will want to read about below!
We have all of the hottest stock market news for Tuesday! That includes the biggest pre-market stock movers this morning, the latest news concerning shares of 3M (NYSE:MMM) and more. All of this news is ready to go at the links below!
More Tuesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- 3M Finalizes Drinking Water Settlement Amidst Solventum Spinoff
- Why Is CXApp (CXAI) Stock Up 160% Today?
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.
