AgileThought (NASDAQ:AGIL) stock is rocketing higher on Wednesday despite a lack of news from the digital transformation services company.
That includes no press releases or filings with the Securities and Exchange Commission (SEC) that would explain today’s stock movement. On that same note, no analysts are offering new coverage of the stock that would act as a catalyst for today’s rally.
Even so, shares of AGIL stock are taking off as they see heavy trading early on Wednesday morning. As of this writing, more than 11 million shares of the stock have changed hands. That’s a massive leap over its daily average trading volume of about 6 million shares.
What This Means for AGIL Stock
One thing investors will note about this movement without news is AGIL’s penny stock status. Penny stocks are more easy to manipulate with their low entry points. For example, AGIL closed out Tuesday at just 8 cents per share. It also only has a market capitalization of $4.35 million.
If today’s rise really is traders manipulating a penny stock, investors will want to be wary. This could lead to a dramatic fall once those traders are done pumping up AGIL shares.
AGIL stock is up 69.4% as of Wednesday morning.
There’s even more stock market news traders will want to read about below!
We’ve got all of the hottest stock market news ready to go for Wednesday! That includes a look at the biggest pre-market stock movers this morning, the latest news concerning Safe and Green Development (NASDAQ:SGD) stock and more. All of that news is ready to go at the following links!
More Wednesday Stock Market News
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
