PicoCELA (PCLA) stock rocketed higher on Friday without any news from the wireless mesh solutions company. There were no press releases or filings with the U.S. Securities and Exchange Commission (SEC) that explain why the stock was up today. Even so, that doesn’t mean the stock was up without reason.
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Investors will note that PicoCELA experienced heavy trading today. As of this writing, more than 13 million shares have changed hands. That’s well above the company’s three-month average daily trading volume of about 167,000 shares. It also bears mentioning that PCLA stock saw heavy trading yesterday too. That saw it close Thursday with some 45 million shares traded.
Another thing to note about PicoCELA is its float. The company has a float of about 1.08 million shares. This low float, combined with today’s elevated trading activity, might raise concerns for traders. Adding to this is PicoCELA’s status as a penny stock. Even after yesterday’s rally, the shares only traded for about $2.25 each. Being a penny stock opens the company up to volatility. This usually happens when retail traders come together to pump a penny stock. If that is what is happening to PCLA stock today, it might be best for traders to avoid buying the shares right now.
How Has PicoCELA Stock Moved Today?
PicoCELA stock movement for Friday has been wild. The shares have soared 209.33% in premarket trading today, following a 60.7% rally yesterday. Despite these gains, the stock was still down 75.16% year-to-date. The shares have also fallen 87.82% over the past 12 months.
PicoCELA stock’s recent rally does safely move the company away from delisting. This is something it has struggled with in the past. However, traders will have to wait and see if the stock can keep any of today’s gains.
