Kidpik (NASDAQ:PIK) stock is rocketing higher on Monday alongside heavy trading of the kid’s apparel, footwear and accessories e-commerce company’s shares.
This has more than 5 million shares of the company’s stock changing hands as of this writing. That’s already well above Kidpik’s daily average trading volume of 263,000 shares.
Investors will note that there’s no new news from the company today that explains this rally. That includes a lack of press releases or filings with the Securities and Exchange Commission on Monday.
Recent PIK Stock News
The most recent news from Kidpik concerns a reverse stock split that went into effect last week. That saw the company consolidate shares on a 1-for-5 basis. It did so to regain listing compliance with the minimum bid rule of $1 per share.
One thing worth noting is PIK’s penny stock status. That opens it up to volatility. It could be that the stock is rising so high today as certain traders take interest in it following the company’s reverse stock split last week.
PIK stock is up 230% as of Monday morning and was up 42.9% year-to-date as of Friday’s close.
Traders seeking out even more of the most recent stock market news for today will want to stick around!
We have all of the hottest stock market stories worth reading about on Monday! That includes the biggest pre-market stock movers this morning, the latest news concerning shares of Palantir Technologies (NYSE:PLTR) stock and more. All of this is ready to go at the links below!
More Monday Stock Market News
On Penny Stocks and Low-Volume Stocks: 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
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.
