CYTO - Why Is Altamira Therapeutics (CYTO) Stock Up 45% Today?
2023-05-04 08:04:46 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Altamira Therapeutics (NASDAQ: CYTO ) stock is taking off on Thursday despite a lack of news from the RNA-based therapeutics company.
There are no new press releases from Altamira Therapeutics that explain why the company’s shares are rising today. Likewise, there’s a lack of filings or analyst coverage that shines a light on the stock’s rally.
Instead, it looks like heavy trading is behind today’s movement. As of this writing, more than 8 million shares of the company’s stock have changed hands. For comparison, CYTO stock trades close to 2 million shares per day on average.
One thing investors will also note is CYTO’s penny stock status. This comes from its low market capitalization of $5.976 million and prior closing price of 86 cents per share. That means the company’s shares can be incredibly volatile.
CYTO Stock News to Watch
While there’s no Altamira Therapeutics news today, some is on the way. The company intends to hold a presentation at the Sidoti Micro-Cap Conference taking place May 10 through May 11 . Thomas Meyer, founder, chairman, and CEO of Altamira Therapeutics will lead this presentation.
Investors that want to tune into this presentation can do so through a webcast on the event’s website . Also, the presentation starts at 1:00 p.m. and is set to last for half an hour.
CYTO stock is up 47.4% on Thursday morning.
Investors looking for more of the most recent stock market news will want to stick around!
InvestorPlace is home to all of the hottest stock market coverage traders need to know about on Thursday! That includes the biggest pre-market stock movers this morning, what’s happening with Mullen Automotive (NASDAQ: MULN ), and more. You can find out all about these topics at the following links!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- MULN Stock Alert: Mullen Announces 1-for-25 Reverse Stock Split
- RIVN Stock Alert: Rivian SUV Wins Vehicle Safety Award
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 .
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