GME - Why SGOCO Group Was Up Over 100% Again on Monday
Shares of SGOCO Group (NASDAQ: SGOC) were up as much as 196% Monday morning as retail investors piled into this penny stock. The Hong Kong company's stock was up 172.2% at 11:47 a.m. EDT and is now up a whopping 917% in the last five trading days.
On Friday of last week, SGOCO Group stock went up 500% on no news or analyst reports. Historically, SGOCO Group's 10-day trading volume was much less than 1 million shares. Today alone it changed hands 59 million times before noon EDT. The rise on Friday spurred interest from traders on Reddit, Stocktwits, and Twitter who have propped up stocks like GameStop (NYSE: GME) and AMC Entertainment Holdings (NYSE: AMC) for some time this year. It is unclear why shares of SGOCO Group went up last week, but all indications are that it is retail demand driving up the stock on Monday.
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Why SGOCO Group Was Up Over 100% Again on Monday