Trinity Place (NYSEMKT:TPHS) stock is rising higher on Friday alongside heavy trading of the real estate holding, investment, development, and asset management company’s shares.
This has more than 14.6 million shares of TPHS stock changing hands as of this writing. That’s well above its daily average trading volume of about 6.6 million shares. Investors will also note that the company’s float is 22.11 million units.
All of this heavy trading comes without any clear news for investors. That includes a lack of press releases and filings this morning. There’s also no analyst coverage that would explain today’s rally.
What is worth keeping in mind is TPHS is a penny stock. This comes from its prior closing price of just 13 cents and its market capitalization of only $8.211 million.
What That Means for TPHS Stock
Being a penny stock comes with certain issues, including the potential for extreme volatility. This is possible due to speculative traders who may pump and dump a company’s shares.
It’s not clear if that’s what’s going on with TPHS stock today. No matter the case, it does mean traders will want to be careful about taking a stake in the company right now.
TPHS stock is up 17% as of Friday morning.
Investors will want to keep reading for more of the most recent stock market stories!
We have all of the hottest stock market news available on Friday! That includes why Spectaire (NASDAQ:SPEC) stock is up today, the biggest pre-market stock movers this morning and more. All of this info is ready to go at the links below!
More Stock Market News for Friday
- Why Is Spectaire (SPEC) Stock Up 105% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- AFJK Stock: 5 Things to Know as a United Hydrogen SPAC Merger Takes Shape
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.
