African Agriculture (NASDAQ:AAGR) stock is heading higher on Friday alongside heavy pre-market trading of the commercial farming company’s shares.
As of this writing, more than 28 million shares of AAGR stock have changed hands, well above its daily average trading volume of about 266,000 shares. The company’s float is also worth mentioning: 15.32 million units.
There’s no clear news from African Agriculture that would cause today’s rally. That includes a lack of press releases or filings from the company. On the same note, no analysts have offered coverage that would act as a catalyst for today’s movement.
What is worth keeping in mind is that AAGR is a penny stock. This comes from its prior closing price of 24 cents per share and its market capitalization of $13.981 million.
What That Means for AAGR Stock
Being a penny stock opens AAGR up to volatility. This can be due to speculative traders buying the shares. It could also be the target of a pump and dump by retail and day traders.
All of this is to say that AAGR is a risky investment right now. Traders will want to be careful about taking a stake in the company this morning.
AAGR stock is up 54.7% as of Friday morning. However, the shares were down 78% year-to-date when markets closed yesterday.
Investors will want to keep reading for more of the most recent stock market stories today!
We have all of the hottest market news worth reading about on Friday! That includes the biggest pre-market stock movers this morning and other news. You can find out more about these matters below!
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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.
