Ainos (NASDAQ:AIMD) stock is rocketing higher on Friday with heavy trading of the healthcare company’s shares.
This has more than 7 million shares of the company’s stock changing hands as of this writing. That’s already well above its daily average trading volume of about 978,000 shares.
It’s worth mentioning that this movement comes without any clear news from the company. That means there are no press releases or filings that explain why the stock is up today.
One thing that investors will want to note is that AIMD stock has been volatile this week. That saw the company’s shares rally earlier this week without any news to report. Today’s movement appears to be a continuation of that.
What to Know About AIMD Stock
Investors will keep in mind that AIMD’s prior closing price was $1.12 per share. It also has a market capitalization of $5.239 million. Both of these firmly set it in penny stock territory.
Being a penny stock opens AIMD up to manipulation from retail and day traders. It’s also possible traders are seeing a short squeeze considering the stock’s float is about 1.08 million units.
AIMD is a risky investment this morning and only for the most fearless of traders.
AIMD stock is up 153.4% as of Friday morning but is down 41.7% year-to-date.
There are more stock market stories worth reading about below!
We have all of the hottest stock market news for Friday! That includes the biggest pre-market stock movers this morning, as well as earnings updates on several companies. You can find all of that at the following links!
More Friday 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
