Dermata Therapeutics (NASDAQ:DRMA) stock is taking off on Wednesday alongside heavy pre-market trading of the late-stage medical dermatology company’s shares.
This has more than 13 million shares of DRMA stock changing hands as of this writing. That’s well above its daily average trading volume of about 88,000 shares. Investors will also note that Dermata Therapeutics’ float is only 433,330 shares.
Investors will note that this movement comes without any news from Dermata Therapeutics today. That includes a lack of press releases or filings with the Securities and Exchange Commission (SEC). There also isn’t any analyst coverage that would cause the shares to rally today.
What is worth keeping in mind is the fact that DRMA is a penny stock. This comes from its low daily average trading volume, its prior closing price of just $1.30 and its market capitalization of only $901,127.
What That Means for DRMA Stock
Being a penny stock comes with certain disadvantages. That includes volatility. We’ve seen some of this recently with shares of DRMA stock falling 22.6% during normal trading hours yesterday. That came with 1.4 million shares traded.
This also makes DRMA stock a risky investment. Traders will keep that in mind before taking a stake in the company.
DRMA stock is up 200% as of Wednesday morning.
Investors will want to keep reading for more of the most recent stock market news today!
We have all of the hottest stock market news traders need to know about on Wednesday! That includes the biggest pre-market stock movers this morning and more of the latest news. You can find all of this at the links below!
More Wednesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- Dear SOFI Stock Fans, Mark Your Calendars for July 30
- What Is Going on With Regencell Bioscience (RGC) Stock 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.
