HTGM - Why Is Reborn Coffee (REBN) Stock Up 34% Today?
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Reborn Coffee (NASDAQ:REBN) stock is heating up on Monday as investors take note of the California coffee company’s shares.
With that comes heavy trading of REBN stock. As of this writing, more than 4 million shares of the stock have changed hands. That’s quite the surge compared to the company’s daily average trading volume of about 90,000 shares.
Investors will also note the company’s market cap of $19.153 million and share price of about $1.41. That firmly places it among penny stocks, which means it could be subject to unexpected and extreme volatility. Today’s heavy trading volume backs up this idea.
The Latest REBN Stock News
Investors seeking more substantial news than just heavy trading will have to look back to Thursday. On that day, the company announced its expansion to South Korea. It’s doing this through its acquisition of a roasting research and development facility in Daejeon.
Reborn Coffee notes that this is part of its global expansion plan. The facility also includes a shop for customers to purchase coffee from. Investors will keep in mind that Daejeon is South Korea’s fifth largest metropolis with some 1.5 million people.
REBN stock is up 33.5% as of Monday afternoon.
Investors looking for more of the latest stock market news are in luck!
InvestorPlace is home to all of the hottest stock market coverage on Monday! A few examples include what’s going on with shares of Harpoon Therapeutics (NASDAQ:HARP), Tonix Pharmaceuticals (NASDAQ:TNXP), and HTG Molecular Diagnostics (NASDAQ:HTGM) stock today. All of that news is ready to go below!
More Monday Stock Market News
- Why Is Harpoon Therapeutics (HARP) Stock Up 100%+ Today?
- Why Is Tonix Pharmaceuticals (TNXP) Stock Up 40% Today?
- Dear HTGM Stock Fans, Mark Your Calendars for Dec. 13
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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