Neo-Concept (NASDAQ:NCI) stock is up on Thursday alongside heavy pre-market trading for the apparel solutions company’s shares this morning.
This has more than 13 million shares changing hands as of this writing. That’s well above its daily average trading volume of about 1.3 million shares. Investors will also note that its float is only 1.87 million units.
There’s no recent news that explains why shares of NCI stock are rallying today. That includes a lack of press releases, filings with the U.S. Securities and Exchange Commission (SEC) or analyst coverage.
What is worth keeping in mind is NCI is a penny stock. This comes from its prior closing price of 65 cents per share and market capitalization of just $14.7 million.
What That Means for NCI Stock
Being a penny stock opens up NCI shares to certain vulnerabilities. That includes manipulation by retail and day traders. They often pump up penny stocks for profits before dumping them.
If this is what’s happening to NCI stock today, then traders will want to be careful about investing in it. While shares are up now, it might not be long before they come crashing back down.
NCI stock is up 60.9% as of Thursday morning but was down 93.1% year-to-date (YTD) when markets closed yesterday.
Investors will want to stick around for more of the most recent stock market stories today!
We have all of the hottest stock market news that traders need to know about on Thursday! That includes what’s happening with the biggest pre-market stock movers this morning, the latest news on the Federal Reserve meeting and more. All of this is ready to go at the links below!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Why the Fed Is Only Counting on 1 Rate Cut Now in 2024
- Why Is Longeveron (LGVN) Stock Up 120% Today?
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 hold (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.
