BNSO - What Is Going on With Bonso Electronics (BNSO) Stock Today?
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Bonso Electronics (NASDAQ:BNSO) stock is rocketing higher on Monday despite a lack of news from the company.
Instead, heavy trading is behind the massive increase in price for BNSO stock. That has some 10 million shares of the stock on the move as of this writing. To put that in perspective, the company’s daily average trading volume is only about 16.000 shares.
Considering that low average trading volume and market capitalization of $41.723, BNSO is a penny stock. Even if its value nearly doubled today from $4.78 on Friday close to $8.51 as of Monday afternoon.
Investors will want to be careful about taking a stake in BNSO stock during today’s rally. It’s now uncommon for traders on social media to come together to pump up penny stocks. That low trading volume and market capitalization make it fairly easy for a group of traders to manipulate the stock’s price.
We’re also seeing plenty of chatter about BNSO stock on social media today. That includes plenty of spam and bot posts, but there are some influencers taking note of today’s rise.
If you’re wondering what exactly Bonso Electronics does, you might not be alone. The small size of the company means few traders are familiar with its business. The company’s focus is weight measuring. This has it producing a variety of scales, from those used by professionals, to ones found in bathrooms.
BNSO stock is up 77.8% as of Monday afternoon.
There’s more recent stock market news for traders to dive into below!
We’ve got all the hottest stock news that investors need to know about for Monday! Among them are short squeeze stocks to watch, an important date for Tesla (NASDAQ:TSLA) stock, as well as what has hydrogen stocks rising. You can get up to speed on all of this news at the following links!
More Monday Stock Market News
- TBLT, RDBX: The Top 5 Short Squeeze Stocks to Watch This Week
- Dear TSLA Stock Fans, Mark Your Calendars for Aug. 17
- Why Are Hydrogen Stocks FCEL, BE, GEVO, PLUG Up Today?
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.
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