Blue Star Foods (NASDAQ:BSFC) stock is rocketing higher on Thursday alongside heavy pre-market trading of the marine protein company’s shares.
This has more than 10 million shares of BSFC stock changing hands as of this writing. That’s already well above its daily average trading volume of about 1.1 million shares. It’s also above the company’s float of 900,930 units.
The heavy trading of BSFC stock comes without any clear news from the company. That includes a lack of Blue Star Foods earnings reports or filings with the Securities and Exchange Commission (SEC). There’s also no analyst coverage that would cause shares to rally today.
What is worth keeping in mind is BSFC’s status as a penny stock. This comes from its prior closing price of $1.68 and its market capitalization of $1.769 million.
What That Means for BSFC Stock
Being a penny stock comes with the risk of additional volatility. This can be due to speculative traders buying the shares. It can also happen alongside pump and dumps from day and retail traders.
All of this is to say that an investment BSFC right now is a risky one. Traders may want to wait for the stock to calm down before considering taking a stake in it.
BSFC stock is up 74.4% as of Thursday morning.
Investors will want to stick around for more of the most recent stock market stories today!
We have all of the hottest stock market news available on Thursday! That includes the biggest pre-market stock movers this morning and other recent happenings. You can read up on all of that at the links below!
More Thursday Stock Market News
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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.
