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Noco-noco (NASDAQ:NCNC) stock is on the rise Thursday without any new news from the battery development and manufacturing company.
There have been no new press releases of filings with the Securities and Exchange Commission (SEC) that explain why shares of NCNC stock are up today. On that same note, no analysts have offered recent coverage that would act as a catalyst for today’s rally.
Instead, it looks like traders can thank heavy trading for the recent surge in NCNC stock today. As of this writing, more than 7.4 million shares of the company’s stock have changed hands. That’s a massive increase when compared to its daily average trading volume of about 235,000 shares.
One thing that investors will want to keep in mind about NCNC is that it’s a penny stock. That comes from its low trading price of $1.60 cents when markets closed on Wednesday.
Why That Matters to NCNC Stock
Penny stocks can be incredibly volatile due to how easily they can be manipulated. The low trading price allows retail and day traders to easily take large stakes in the companies to boost the share price. Once the stock gains enough, they sell the shares for a profit.
If that’s what’s going on with NCNC stock today, it could make it a risky investment for traders. That means those investors not seeking a risk will want to avoid the company today.
NCNC stock is up 43.8% as of Thursday morning.
There’s even more stock market news traders can read about at the following links!
We’ve got all of the biggest stock market news for Thursday! Among our coverage is what has shares of iCoreConnect (NASDAQ:ICCT) stock rising, the biggest pre-market stock movers this morning, and more. All of that news is ready to go at the links below!
More Stock Market News for Thursday
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 risk.
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.