Agile Therapeutics (NASDAQ:AGRX) stock is rocketing higher on Thursday alongside heavy trading of the women’s healthcare company’s shares.
During pre-market trading this morning, more than 7.5 million shares of AGRX stock have been traded. To put that in perspective, the company’s daily average trading volume is closer to just 78,000 shares.
Investors will note that there are no new press releases or filings that explain why the stock is up today. No analysts are offering new coverage of AGRX shares this morning, either.
One thing that traders will want to keep in mind is AGRX being in penny stock territory. That comes from its low closing price of 99 cents and market capitalization of just $2.941 million.
How This Affects AGRX Stock
Being a penny stock opens AGRX up to certain vulnerabilities. That includes manipulation by traders that would pump and dump its shares. That may be what’s happening today.
Adding to that is AGRX stock being in danger of delisting. The company was recently granted an extension to March 25, 2024 to regain compliance with the Nasdaq’s minimum stockholders’ equity requirement.
With all of this in mind, investors will want to be careful about taking a stake in AGRX stock this morning. It may not be long before the stock sees a potential drop in price.
AGRX stock is up 86.9% as of Thursday morning.
Investors looking for more of the most recent stock market news are in the right place!
InvestorPlace is home to all of the hottest stock market stories worth reading about on Thursday! That includes the biggest pre-market stock movers this morning, the latest news concerning Teladoc (NYSE:TDOC) stock and more. You can catch up on all of these happenings at the following links!
More Thursday 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
