TIRX - Why Is Tian Ruixiang (TIRX) Stock Down 3% Today?
2023-05-30 08:18:41 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Tian Ruixiang (NASDAQ: TIRX ) stock is slipping on Tuesday morning despite a lack of news from the Chinese insurance brokerage services company.
Tian Ruixiang shares aren’t seeing much in the way of trading this morning with only about 2,000 shares having traded hands as of this writing. For the record, the company’s daily average trading volume is well above that at roughly 1.1 million shares.
Likewise, there’s no official news from the company that explains why the stock is sliding lower on Tuesday morning. That includes a lack of press releases, as well as no new filings with the U.S. Securities and Exchange Commission (SEC).
Even so, that doesn’t mean TIRX stock should be ignored today. The company’s shares last closed out trading at $1.66 per share. Its market capitalization also sits at about $5 million.
What Does This Means for TIRX Stock?
This company’s low share price and market cap firmly place it as a penny stock. Penny stocks often see volatility, which could help explain some of today’s movements. That is due to penny stocks being even more volatile outside of normal trading hours.
In the case of TIRX stock, investors have seen the shares drop as much as 15% during pre-market trading this morning. However, they also climbed as much as 1% higher in early morning trading before falling down 3% again as of this writing.
Investors looking for even more of the most recent stock market news on Tuesday will want to keep reading!
We have all of the latest stock market news that traders will want to read about today! Among that is why shares of Ideanomics (NASDAQ: IDEX ) and QualTek Services (NASDAQ: QTEK ) stock are rising, as well as the biggest pre-market stock movers this morning. You can catch up on all of this news at the following links!
More Tuesday Stock Market News
- Why Is Ideanomics (IDEX) Stock Up 15% Today?
- Why Is QualTek Services (QTEK) Stock Up 188% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
On Penny Stocks and Low-Volume Stocks: 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
On the date of publication, William White did not hold (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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