Bone Biologics (NASDAQ:BBLG) stock is rocketing higher despite a lack of news from the medical device company on Thursday.
There are no new press releases or filings with the Securities and Exchange Commission that explain why BBLG stock is up today. On that same note, there is no new analyst coverage that would act as a catalyst for today’s rise.
Despite that, shares of BBLG stock are heading higher alongside heavy trading of the shares. As of this writing, more than 5.6 million shares of the company’s stock have changed hands. That’s already well above its daily average trading volume of about 322,000 shares.
Investors will keep in mind that BBLG is a penny stock. That comes from its low closing price of 54 cents yesterday and its market capitalization of just $1.702 million.
Why That Matters to BBLG Stock
Bone Biologics’ shares being in penny territory opens them up to certain vulnerabilities. That includes potential manipulation by retail and day traders looking to pump and dump the shares.
Considering the lack of news and heavy trading BBLG stock is seeing today, that might be what’s happening with its shares right now. This means traders will want to be careful about taking a stake in the company with this recent volatility.
BBLG stock is up 83.6% as of Thursday morning but was down 91.4% year-to-date when markets closed yesterday.
Investors looking for more of the most recent stock market news will want to keep reading!
We have all of the hottest stock market news that traders need to know about on Thursday! That includes the biggest pre-market stock movers this morning, the latest news concerning a Starlink IPO and more. You can read up on these matters at the following links!
More Thursday Stock Market News
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.
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
