Ebet (NASDAQ:EBET) stock is taking off on Wednesday despite a lack of news from the online gambling company.
Traders of EBET stock are seeing the shares rallying without any new press releases or filings with the Securities and Exchange Commission (SEC). There’s also no new analyst coverage of the stock that explains why the shares are rising.
You are viewing: Why Is Ebet Stock Down
Instead, investors can look to heavy trading as the reason EBET stock is up today. As of this writing, more than 115 million shares of the company’s stock have changed hands. For the record, its daily average trading volume is about 27 million shares.
Recent EBET Stock News
Read more : Why Doesnt My Mom Love Me
One thing investors will want to remember is that Ebet is considering strategic alternatives. The company announced this a few weeks ago as part of a plan to maximize its portfolio. The company notes that this could result in the merger or sales of the business, as well as other options.
Investors will also keep in mind that EBET is a penny stock. That comes from its market capitalization of just $1.702 million and its prior trading price of only 4 cents. That means it’s subject to volatility as retail and day traders can easily take large stakes in the company.
EBET stock is up 36.4% as of Wednesday morning but was down 92.5% year-to-date when markets closed yesterday.
Investors seeking out more of the most recent stock market news are in luck!
Read more : Why Is Naphtha Banned
InvestorPlace is home to all of the hottest stock market news traders need to know about on Wednesday! Among that is what has shares of Novo Integrated Sciences (NASDAQ:NVOS) stock up, the biggest pre-market stock movers this morning, and more. All of that news is ready to go below!
More Stock Market News for Wednesday
- Why Is Novo Integrated Sciences (NVOS) Stock Up 67% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- 5 Investors Betting Big on Palantir (PLTR) Stock in Q2
On Penny Stocks and Low-Volume Stocks: 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 risk.
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.
Source: https://t-tees.com
Category: WHY
