ICoreConnect (NASDAQ:ICCT) stock is rising higher on Monday even without any clear news from the cloud-based software and technology company.
There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why ICCT stock is up today. Likewise, no analysts are offering new coverage of the shares this morning.
Despite that, shares of ICCT stock are seeing heavy trading this morning. As of this writing, more than 6.2 million shares of the stock have been traded. That’s already well above the company’s daily average trading volume of about 439,000 shares.
Investors will keep in mind that ICCT is a penny stock. That comes from its low closing price of $1.70 and its market capitalization of only about $14.789.
What That Means for ICCT Stock
Being a penny stock brings with it certain risks that might be affecting ICCT shares today. That includes the ease at which certain traders can pump and dump the company’s stock.
If that’s what’s happening this morning, then investors will want to be careful about taking a stake in ICCT stock right now. The stock will likely lose the gains its seen today in the near term.
ICCT stock is up 48.8% as of Monday morning but is down 56% year-to-date as of Friday’s close.
Investors can find even more of the hottest stock market news ready to go below!
We’ve got all of the latest stock market happenings for Monday! Among that is what has shares of Alaunos Therapeutics (NASDAQ:TCRT) stock up, the biggest pre-market stock movers this morning and more. All of that is ready to go at the following links!
More Stock Market News for Monday
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
