WISA - Why Is Tempo Automation (TMPO) Stock Down 17% Today?
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Tempo Automation (NASDAQ:TMPO) stock is sliding on Friday after the stock saw a rally yesterday on analyst coverage.
That came from Northland Securities, which initiated its coverage of TMPO stock with an “outperform” rating. For the record, the analysts’ consensus for TMPO shares is a “moderate buy” based on three opinions.
To go along with that, the Northland Securities analyst also kicked off their coverage of TMPO stock with a $3 price target. That represents a 64.8% potential upside at the time of this writing. It also matches the analysts’ consensus price target for the shares.
Why Is TMPO Stock Down Now?
That new coverage for TMPO stock came out on Thursday. At that time, the company’s shares got a boost, which saw them close out the day 3.4% higher. That was helped by a heavy trading volume of some 7 million shares. For comparison, the company’s daily average trading volume is only about 307,000 shares.
As for why the stock is down today, it’s likely just a case of shares retreating after yesterday’s rally. The more extreme drop can also be attributed to TMPO being a penny stock. That means it’s more likely to face volatility.
TMPO stock is down 16.5% as of Friday morning.
Investors looking for all of the latest stock market news are in the right place!
InvestorPlace is home to all of the hottest stock coverage for Friday! A few examples include what’s happening with shares of Genius (NASDAQ:GNUS) and WiSA Technologies (NASDAQ:WISA) stock, as well as this morning’s biggest pre-market stock movers. You can catch up on all of that news at the following links!
More Friday Stock Market News
- Why Is Genius (GNUS) Stock Up 4% Today?
- Why Is WiSA Technologies (WISA) Stock Up 37% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
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
- Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”
- It doesn’t matter if you have $500 or $5 million. Do this now.
The post Why Is Tempo Automation (TMPO) Stock Down 17% Today? appeared first on InvestorPlace.