Actelis Networks (NASDAQ:ASNS) stock is falling hard on Thursday but it’s not due to any negative news from the cyber-hardened networking solutions company.
Instead, shares of ASNS stock are down after undergoing a massive rally yesterday. That saw it close out Wednesday up 691.5% with more than 84 million shares traded. For the record, its daily average trading volume is well below that at around 1.9 million shares.
ASNS stock rallied yesterday because it secured three new military base contracts. These contracts will require it to provide these bases with its “cyber-hardened networking technology.” This news excited investors and caused the rally and heavy trading seen during the prior day of trading.
What’s Happening to ASNS Stock Now
Following yesterday’s extreme rally, it makes sense that ASNS would give up some of its gains. This is due to the hype around the contracts lessening and likely has some investors sell shares on the high. This has the price of the stock starting to settle.
That has shares of ASNS stock down 37.1% as of Thursday morning with more than 2.3 million shares traded as of this writing.
Investors who are seeking out even more of the most recent stock market stories today are going to want to stick around!
We have all of the hottest stock market news that traders need to know about on Thursday! A few examples of that include two penny stocks rallying today, the biggest pre-market stock movers this morning and more. All of this news is ready to go at the links below!
More Thursday Stock Market News
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- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
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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.
