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Source: ShutterstockInVivo Therapeutics (NASDAQ:NVIV) stock is rocketing higher on Thursday despite a lack of news concerning the clinical-stage biomaterials and biotechnology company.
So what has NVIV stock on the rise today? It looks like investor speculation is behind the surge in price for NVIV shares. This has them experiencing incredible volatility on Thursday that’s resulted in trading being halted five times as of this writing.
Even with those trading halts, NVIV stock continues to see incredibly heavy trading volume today. As of this writing, more than 29 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is only about 12,600 shares.
That low average trading volume and small market capitalization of $16.48 million make NVIV a penny stock. Even after shares have more than doubled in value today, they’re only trading in the $11 range.
Investors will want to keep that in mind when considering an investment in InVivo Therapeutics. It’s easy for retail and day traders to come together and pump the prices of these types of stocks before dumping them for profits.
Brave investors still interested in InVivo Therapeutics will note its focus on treating spinal cord injuries. This has it developing advanced scaffold technology that allows it to modulate the healing environment to provide cell growth and survival.
NVIV stock is up 168.1% as of Thursday afternoon. Even after that rally, shares are still down 11.5% since the start of the year.
There’s more hot stock news for traders to sink their teeth into below!
We’ve got all of the latest stock news ready to go for interested investors! A few examples include why Robinhood (NASDAQ:HOOD), Lucid (NASDAQ:LCID), and electric vehicle (EV) stocks are in the news today. You can get up to speed on these topics at the following links!
More Thursday Stock Market News
- HOOD Stock: Is Robinhood Following the SEC’s Short-Selling Rules?
- LCID Stock Plunges as Lucid Slashes EV Production Targets
- Why Are EV Stocks FSR, NKLA, RIDE Up Today?
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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