Why Is Fresh2 Group (FRES) Stock Up 31% Today?


  • Fresh2 Group (FRES) stock is gaining on Tuesday alongside heavy pre-market trading.
  • That’s despite a lack of news from the biotechnology company.
  • It could be due to its penny stock status.
FRES Stock - Why Is Fresh2 Group (FRES) Stock Up 31% Today?

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Fresh2 Group (NASDAQ:FRES) stock is heading higher on Tuesday alongside heavy pre-market trading of the biotechnology company’s shares.

This has more than 5.6 million shares of FRES stock changing hands as of this writing. That’s a massive surge in trading volume compared to the company’s shares average of about 96,000 shares.

Investors will note this movement comes without any news from Fresh2 Group. That includes a lack of press releases or filings. There’s also no analyst coverage, which would cause shares of FRES stock to rally this morning.

One piece of news worth keeping in mind is a delisting notice. The company was sent one late in May due to its late Form 10-Q filing. It was given 60 days to submit a plan to regain compliance.

Traders will also take note that FRES is a penny stock. This comes from its low daily average trading volume, a prior closing price of just 36 cents and its market capitalization of only about $8.708 million.

Why That Matters to FRES Stock

Being a penny stock can sometimes bring with it volatility. This often happens when certain types of traders take an interest in a stock and decide to pump and dump the shares.

It’s possible this is what’s happening with FRES stock this morning. If that’s the case, investors will want to be wary about taking a stake in the stock right now.

FRES stock is up 30.8% as of Tuesday morning but was down 50% year-to-date when markets closed yesterday.

Investors will want to keep reading for more of the most recent stock market news!

We have all of the hottest happenings worth reading about on Tuesday! Among that is what has shares of MicroAlgo (NASDAQ:MLGO) stock up, the biggest pre-market movers this morning and more. All of this info is ready at the following links!

More Stock Market News for Tuesday

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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.

Article printed from InvestorPlace Media, https://investorplace.com/2024/06/why-is-fresh2-group-fres-stock-up-31-today/.

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