Jet AI (NASDAQ:JTAI) stock is climbing higher on Monday despite a lack of news from the private aviation platforms company.
There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why JTAI stock is up today. On that same note, no analysts are offering new coverage of the shares.
Even so, shares of JTAI stock are rising on Monday with heavy trading. That has more than 2 million shares of the stock changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is only about 37,000 shares.
One thing that investors will want to keep in mind is JTAI’s penny stock status. That comes from its low daily average trading volume, prior closing price of $1.66 and its market capitalization of $14.966 million.
Why That Matters for JTAI Stock
Being a penny stock opens Jet AI’s shares up to certain vulnerabilities. That includes strong volatility as the low entry point makes it easy for certain traders to manipulate its share price.
If that is what’s happening to JTAI stock this morning, investors will want to be wary about buying the company’s shares today. It might not be long before the stock gives up today’s gains.
JTAI stock is up 19.9% as of Monday morning but is down 84.5% year-to-date as of Friday’s close.
Investors looking for more of the most recent stock market stories are in the right place!
We have all of the hottest stock market news that traders need to know about on Monday! That starts with the biggest pre-market stock movers this morning and expands to more of the latest market news. You can catch up on all of that below!
More Monday 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
