Dividend Stocks

Why Is Nauticus Robotics (KITT) Stock Up 59% Today?

Nauticus Robotics (NASDAQ:KITT) stock is up on Tuesday alongside heavy pre-market trading of the ocean robots company’s shares.

Nauticus Robotics stock is experiencing heavy trading, with more than 41 million shares changing hands as of this writing. That’s a massive surge in trading volume compared to the company’s daily average of about 14.1 million shares.

Investors will also note that KITT stock saw heavy trading and a rally yesterday. That resulted in more than 212 million shares changing hands yesterday. It also saw the stock rally 49% when markets closed on Monday.

Investors will keep in mind that this movement comes without any clear news from Nauticus Robotics. That includes a lack of press releases or filings with the Securities and Exchange Commission (SEC). There’s also no analyst coverage that would cause the shares to rally.

KITT Stock Movement on Tuesday

Even without clear news, the heavy trading of KITT stock has the shares up this morning. That has the stock increasing 58.9% as of Tuesday morning. However, shares were down 60.9% year-to-date when markets closed on Monday.

Investors will also want to be careful with Nauticus Robotics as KITT is a penny stock. That comes from its prior closing price of 23 cents and market capitalization of only $14.416 million. This means its susceptible to volatility and could be the target of a pump and dump.

Investors will want to keep reading for even more of the most recent stock market stories today!

We have all of the hottest stock market news traders need to know about on Tuesday! That includes the biggest pre-market stock movers this morning, catalysts coming this week and more. All of this info is ready to go at the links below!

More Tuesday Stock Market News

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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.