Tantech (NASDAQ:TANH) stock is taking off on Monday as the manufacturing company experiences heavy trading this morning.
This has more than 42 million shares of TANH stock changing hands as of this writing. That’s a massive leap over its daily average trading volume of about 300,000 shares.
It’s also worth noting that the float for TANH stock is 987,020 units. Investors will also keep in mind that the short interest in Tantech’s float is sitting at 8.24%.
It’s also worth mentioning that TANH is a penny stock. This comes from its prior closing price of only 66 cents and its market capitalization of about $10.039 million.
What This Means for TANH Stock
Being a penny stock means that TANH could be the target of a pump and dump today. On top of that, meme stock traders may also have taken an interest in the company’s shares.
Either of these outcomes would explain why TANH stock is up today. The extra trading activity alongside the lack of news also adds to the idea that this is why shares are in the spotlight on Monday.
TANH stock is up 90.5% as of Monday morning. The stock is up 17% since the start of the year.
Investors will want to read all of the hottest stock market stories below!
We have all of the latest stock market news traders need to know about on Monday! That includes everything happening with Li Auto (NASDAQ:LI), Barnes & Noble Education (NYSE:BNED) and Wix (NASDAQ:WIX) stock today. You can catch up on all of these matters at the links below!
More Monday Stock Market News
- LI Stock Alert: Why Li Auto Is Skidding Out Today
- Why Is Barnes & Noble (BNED) Stock Down 16% Today?
- Wix Stock Soars as Q1 Earnings Crush Expectations: 5 Key Takeaways
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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.
