Advanced Health Intelligence (NASDAQ:AHI) stock is rocketing higher on Wednesday despite a lack of news from the digital healthcare company.
There have been no new earnings reports from Advanced Health Intelligence that explain the rally today. Likewise, the company hasn’t made any filings that would shine some light on its stock movement. Also, no analysts have weighed in on AHI stock recently.
Despite all of that, shares of AHI stock are seeing incredibly heavy trading in early morning trading. As of this writing, more than 11 million shares of the stock have changed hands. That’s already well above the company’s daily average trading volume of about 3.8 million shares.
This isn’t too unexpected from AHI stock. The company has seen massive movement in the past, likely due to its penny stock status. Its low trading price of 74 cents per share and market capitalization of $24.265 million make it easy for certain traders to come together and manipulate.
What To Know About AHI Stock
Advanced Health Intelligence is focused on helping healthcare companies digitize their businesses. It offers a suite of biometric services, such as facial and body scanning, to provide deeper insight into patients’ health.
Advanced Health Intelligence was founded in 2014 and is based in Australia. The company had 19 employees when it last reported. It went public in November 2021 under the name Advanced Human Imaging with a $10.5 million initial public offering (IPO).
AHI stock is up 123% as of Wednesday morning.
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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
