Kaival Brands Innovations (NASDAQ:KAVL) stock is falling on Monday after the electronic nicotine delivery system company’s shares underwent a massive rally on Friday.
Shares of KAVL stock rallied 338.2% on Friday without any clear news from the company. That brought with it heavy trading as almost 71 million shares changed hands that day. To put that number in perspective, Kaival Brands Innovations’ daily average trading volume is closer to 3.7 million shares.
One factor that may have been affecting KAVL stock is its low float. The company’s float is only sitting at about 845,900 shares. This opens it up to volatility alongside heavy trading.
On top of that, KAVL is a penny stock. That comes from its $17.063 million market capitalization. This is another factor that could affect its volatility.
KAVL Stock Movement Today
Considering its penny stock status, it makes sense that KAVL would give up some of its gains from Friday. It’s also worth noting that it isn’t seeing heavy trading today with only about 400,000 shares on the move this morning.
KAVL stock is down 32.7% as of Monday morning. The shares were up 30.7% year-to-date when markets last closed.
Investors will want to keep reading for all of the latest stock market stories!
We have all of the hottest stock market news available to investors on Monday! A few examples include what’s going on with shares of ENDRA Life Sciences (NASDAQ:NDRA) and Scinai Immunotherapeutics (NASDAQ:SCNI) stock, as well as the biggest pre-market stock movers this morning. All of that news is ready at the following links!
More Monday Stock Market News
- Why Is ENDRA Life Sciences (NDRA) Stock Up 36% Today?
- Why Is Scinai Immunotherapeutics (SCNI) Stock Up 88% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
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.
