Nuzee (NASDAQ:NUZE) stock is heading higher on Wednesday alongside heavy pre-market trading of the coffee machine company’s shares.
This has more than 8 million shares of NUZE stock changing hands as of this writing. That’s well above its daily average trading volume of about 575,000 shares. Investors will also keep in mind that its float is 560,520 shares.
All of this activity comes without any clear news from Nuzee. 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 NUZE stock to rally today.
One thing investors will note is that NUZE is a penny stock. That comes from its prior closing price of $1.03 per share and its market capitalization of just $2.459 million.
Why That Matters to NUZE Stock
Being a penny stock comes with the risk of extra volatility. That makes sense as retail and day traders sometimes pump up these shares.
However, that also means the stock isn’t likely to maintain its increased price. Once those traders sell their shares for profits, NUZE is likely to come back down from this high. Traders will want to weigh that potential when considering a stake in Nuzee.
NUZE stock is up 133% as of Wednesday 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 ready to go on Wednesday! Among that is what has shares of Dermata Therapeutics (NASDAQ:DRMA) stock rising, the biggest pre-market stock movers this morning and more. All of this info is ready at the links below!
More Stock Market News for Wednesday
- Why Is Dermata Therapeutics (DRMA) Stock Up 200% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- Dear SOFI Stock Fans, Mark Your Calendars for July 30
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.
