LYFT - Why Is EBET (EBET) Stock Up 25% Today?
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
EBET (NASDAQ:EBET) stock is taking off on Monday morning following insider buying and heavy trading volume today.
The latest news on EBET stock comes from a U.S. Securities and Exchange Commission (SEC) filing on Friday. In that filing, the company reported director Christopher Downs increasing his stake in the company.
This saw Downs acquiring 6,300 shares of EBET stock. There’s no purchase price for these shares as the director converted restricted stock units to obtain these shares. While the filing is from Friday, the conversion took place on Thursday.
Following this news, investors are seeing heavy trading of EBET stock today. As of this writing, more than 5 million shares of the company’s stock have changed hands. That’s a major jump from its daily average trading volume of about 2.2 million shares.
What Else Is Moving EBET Stock
Investors will also keep in mind that EBET’s main business is gambling. The company offers betting at casinos, as well as sports wagering. That’s worth noting as we just came out of Super Bowl weekend. It’s likely Super Bowl LVII taking place on Sunday increased interest in the sports betting company, which would help explain the increase in trading volume this morning.
EBET stock is up 24.5% as of Monday morning.
Investors looking for more of the latest stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market coverage traders need to know about on Monday! That includes the biggest pre-market stock movers this morning, as well as what’s happening with sports betting and Lyft (NASDAQ:LYFT) stock. All that news is ready to go at the links below!
More Monday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- Why You Should Ignore the Sports Betting Hype at This Year’s Super Bowl
- 5 Investors Betting Big on Lyft (LYFT) Stock
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.
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
More From InvestorPlace
- Buy This $5 Stock BEFORE This Apple Project Goes Live
- The Best $1 Investment You Can Make Today
- It doesn’t matter if you have $500 or $5 million. Do this now.
- Massive Bear Market “Divergence Event” Ahead… And The #1 Way to Play It
The post Why Is EBET (EBET) Stock Up 25% Today? appeared first on InvestorPlace.