Netcapital (NASDAQ:NCPL) stock is taking off on Friday alongside heavy pre-market trading of the fintech company’s shares this morning.
This has more than 43 million shares of NCPL stock changing hands as of this writing. That’s an incredible surge in trading volume compared to the company’s daily average of about 2.1 million shares.
Investors will note that this movement comes without any clear news from Netcapital. There are no press releases for filings with the Securities and Exchange Commission (SEC) that explain the rally. No analyst coverage is behind the jump in activity for NCPL shares today.
It is worth noting that NCPL is a penny stock that has been rallying recently. That saw the stock close out Thursday up 15%. This rise also came with heavy trading as some 55 million shares moved that day.
Why Is NCPL Stock Rallying?
The recent increases for NCPL stock may be tied to its penny status. It could be that day and retail traders have taken a liking to the shares and are pumping them up. That means investors will want to be careful lest they get caught in the potential dump to come.
NCPL stock is up 73.3% as of Friday morning but was down 20.6% year-to-date when markets closed yesterday.
There are more stock market stories ready to go down below!
We have all of the hottest market happenings worth reading about on Friday. Among that is what has shares of Akanda (NASDAQ:AKAN) stock up today, the biggest pre-market stock movers this morning and more. All of that info is available at the following links!
More Stock Market News for Friday
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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.
