InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Planet Image (NASDAQ:YIBO) stock is heading higher on Monday alongside heavy pre-market trading of the ancillary printer components company’s shares this morning.
That has more than 3.9 million shares traded as of this writing. To put that in perspective, the company’s daily average trading volume is only about 8,000 shares. Its float is also low at 1.78 million units.
Investors will note that the YIBO stock movement this morning comes without any clear news. 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 this morning’s rally.
One thing that investors will want to keep in mind is that YIBO is a penny stock. This comes from its low daily average trading volume and prior closing price of $2.92.
What That Means for YIBO Stock
Being a penny stock comes with certain disadvantages. That includes attracting the attention of speculative or retail and day traders. This can cause volatility in these shares.
Considering the heavy trading of YIBO stock today and the lack of news, this is likely behind its gains. However, the stock may not remain up for long on this type of rally. Traders will want to consider that before taking a stake in Planet Image.
YIBO stock is up 53.4% as of Monday morning.
InvestorsPlace is home to all of the most recent stock market stories traders need to know about on Monday!
We have the hottest market happenings worth reading about today! That includes the biggest pre-market stock movers this morning and other news. You can read up on all of that at the links below!
More Monday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- Will the July Jobs Report Trigger a Stock Market Crash on Aug. 2?
- Raymond James Just Issued a Major Warning on Nvidia (NVDA) Stock
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.
More From InvestorPlace
The post Why Is Planet Image (YIBO) Stock Up 53% Today? appeared first on InvestorPlace.