Safe & Green Development (NASDAQ:SGD) stock is rocketing higher on Friday despite a lack of news from the real estate development company this morning.
There are no new press releases or filings with the Securities and Exchange Commission that are acting as a catalyst for SGD stock today. On that same note, no analysts are offering new coverage of SGD shares that would explain today’s movements.
What is worth mentioning is heavy trading of SGD stock this morning. As of this writing, more than 3.3 million shares of the stock have changed hands. For the record, the company’s daily average trading volume is closer to 534,000 shares.
Recent SGD Stock Movement
Investors following Safe & Green Development will note that the company’s shares also underwent a massive rally on Thursday without any news. That saw the shares rocket 558.7% higher during normal hours of trading with some 13.4 million shares changing hands.
Without any clear news behind these rallies, it could be that SGD stock is currently undergoing a pump and dump. That would make sense considering it’s a penny stock. If so, investors will want to be careful about investing in the company right now in case its stock suddenly gives up these recent gains.
SGD stock is up 139.6% as of Friday morning.
Investors looking for more of the hottest stock market news today are in the right place!
InvestorPlace is home to all of the most recent stock market stories worth reading about on Friday! That includes what’s happening with the biggest pre-market stock movers today, the latest news concerning Chinese stocks and more. All of that news is ready to go at the links below!
More Friday 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
