SECO - Why Is Jiuzi Holdings (JZXN) Stock Up 38% Today?
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Jiuzi Holdings (NASDAQ:JZXN) stock is taking off on Monday despite a lack of news from the Chinese electric vehicle (EV) company.
Instead, heavy trading volume seems to be behind the increase in price for JZXN stock. As of this writing, more than 10 million shares of the company’s stock have changed hands. That’s a massive surge over its daily average trading volume of about 2.5 million shares.
While investors might be tempted to jump into the JZXN stock rally, they should note the company’s penny status. It closed out Friday at 20 cents per share and has a market cap of $5.116 million. This means its susceptible to volatility, especially during pre-market trading when retail traders are more active.
What This Means for JZXN Stock
With this morning’s rally, shares of JZXN stock are likely to attract traders looking to get in on the action. However, it seems likely the company’s stock will retreat. That could happen later today, or even tomorrow.
All in all, JZXN stock is a risky investment that traders will want to be wary of on Monday. While there could still be room for profits if it rallies further, it seems more likely the stock will see a steady decline during today’s normal trading hours.
JZXN stock is up 37.8% as of Monday morning.
Investors searching for all 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 morning! Among that is what has shares of Secoo Holding (NASDAQ:SECO) stock rallying, this morning’s biggest pre-market stock movers, and more. You can catch up on that at the links below!
More Monday Stock Market News
- Why Is Secoo Holding (SECO) Stock Up 128% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- WOLF Stock Alert: Wolfspeed Will Build Advanced Facility in Germany
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
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