Versus Systems (NASDAQ:VS) stock is heading higher on Friday as the business-to-business software platform company’s shares experience heavy trading this morning.
That heavy trading of VS stock has more than 5.3 million shares on the move as of this writing. That’s already well above the company’s daily average trading volume of about 29,000 shares. It also bears mentioning that its float is only 1.51 million shares.
This increase in trading volume comes without any clear news concerning the company. That includes a lack of press releases or filings with the Securities and Exchange Commission (SEC). There’s also no new analyst coverage that would cause today’s rally.
Instead, traders will keep in mind that VS is a penny stock. That’s due to its low daily average trading volume, prior closing price of $1.65 and its market capitalization of just $4.135 million.
Why That Matters to VS Stock
Being a penny stock comes with certain risks and among them is volatility. This is sometimes due to certain types of traders picking stocks to pump and dump. This might be what’s going on with shares of VS stock today.
If that’s the case, traders will want to steer clear of VS shares right now. While the stock is up this morning, it might not remain that way in the days to come.
VS stock is up 24.6% as of Friday morning. The stock was down 40.6% year-to-date when markets closed yesterday.
There are even more stock market stories worth reading about today below!
We have all of the hottest stock market news that investors need to know about on Friday! Among them is another stock up on heavy trading this morning, the biggest pre-market stock movers today and more. You can catch up on all of these matters at the following links!
More Stock Market News for Friday
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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.
