Anew Medical (NASDAQ:WENA) stock is rising higher on Thursday alongside heavy pre-market trading of the biopharmaceutical company’s shares.
As of this writing, more than 15.9 million shares of WENA stock have changed hands, well above its daily average trading volume of about 2.2 million shares.
Investors will note that this comes without any recent news from the company. That includes a lack of press releases or filings with the Securities and Exchange Commission (SEC). There’s also no analyst coverage that would cause WENA to rally like it is this morning.
One thing worth noting is WENA’s status as a penny stock. That comes from its prior closing price of $1.09 per share and its market capitalization of only $16.49 million.
What That Means for WENA Stock
Being a penny stock comes with certain disadvantages. Among these are increased volatility as its easier for investors to stake larger stakes in the company.
This sometimes attracts speculative traders alongside retail and day traders. These buys can send the price of the stock soaring but oftentimes lead to them giving up those gains in the coming days. Investors will want to consider that before taking a stake in WENA right now.
WENA stock is up 36.7% as of Thursday morning. The stock was down 89.9% year-to-date when markets closed yesterday.
There are more stock market stories traders need to know about on Thursday!
Fortunately, we have all of the hottest stock market news ready to go today. Among that is why Conduit Pharmaceuticals (NASDAQ:CDT) stock is up today and the biggest pre-market stock movers. You can read up on all of this news at the links below!
More Stock Market News for Thursday
- Why Is Conduit Pharmaceuticals (CDT) Stock Up 123% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- FTNT Stock Alert: Why Investors Are Piling Into Fortinet Today
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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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
