MULN - Why Is Inpixon (INPX) Stock Up 31% Today?
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Inpixon (NASDAQ:INPX) stock is rocketing higher on Wednesday despite a lack of news concerning the solutions and technologies company.
Instead, it looks like heavy trading is behind the rise in INPX stock today. This has some 6 million shares on the move as of Wednesday morning. For comparison, the company’s daily average trading volume is closer to 492,000 shares.
And this isn’t the first day that INPX stock has gained alongside heavy trading volume recently. It also jumped 6.1% on Tuesday after roughly 18 million shares of the stock changed hands. Yet again, there was no company news behind that movement.
Investors will keep in mind that INPX is a penny stock. It only trades for about $1.56 and has a market capitalization of $5.053 million. That means its easily subject to volatility, especially in pre-market hours.
What Is Inpixon?
Inpixon is a solutions and technologies company that operates in three parts. That includes its mobile app services, indoor tracking and mapping, as well as its omni-channel events. This data makes it possible for businesses to create smart campuses and better understand how to use the space.
Inpixon was founded in 1999 and operates out of its headquarters in Palo Alto, Calif. The company currently employs 210 people.
INPX stock is up 30.8% in pre-market trading on Wednesday.
Investors seeking more 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 today! That includes this morning’s biggest pre-market stock movers, as well as the latest on Mullen Automotive (NASDAQ:MULN) and Bed Bath & Beyond (NASDAQ:BBBY) stock. You can find out more on these matters at the links below!
More Wednesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- MULN Stock Alert: What Happened During Mullen’s Jan. 23 Court Hearing?
- Why Is Bed Bath & Beyond (NASDAQ:BBBY) Stock Up 10% 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.
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.
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