Kaival Brands (NASDAQ:KAVL) stock is rocketing higher on Friday alongside heavy trading of the electronic nicotine delivery system company’s shares.
This has more than 49 million shares of KAVL stock changing hands as of this writing. That’s a massive surge over its daily average trading volume of about 2.6 million shares. It also bears mentioning that the float for Kaival Brands is only sitting at 845,900 shares.
Another thing to keep in mind is that KAVL is a penny stock. This comes from its market capitalization of just $14.459 million. That, combined with its low float, makes it a potential target for speculative traders.
What That Means for KAVL Stock
This means that Kaival Brands can experience volatility without any news from the company. That appears to be what’s going on today, considering the lack of news from KAVL. It hasn’t put out any news that would cause such a massive rally today.
Of course, that also means that traders are going to want to be careful about taking a stake in KAVL shares right now. While the stock is currently up, it likely won’t remain that way for long. This could see it give up these gains in the days to come.
KAVL stock is up 286% as of Friday afternoon.
Investors seeking out even more of the most recent stock market stories are in luck!
InvestorPlace is home to all of the hottest stock market news for Friday! Among that is what has shares of GameStop (NYSE:GME) and Mullen Automotive (NASDAQ:MULN) stock moving today. All of that news is ready at the links below!
More Friday Stock Market News
- Roaring Kitty Is Now the No. 4 Holder of GameStop (GME) Stock
- MULN Stock: Mullen Sells 80 B4s to Momentum Groups
- Dear GME Stock Fans, Mark Your Calendars for June 17
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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.
