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Boxed (NYSE:BOXD) stock is on the rise Thursday despite a lack of news from the e-commerce wholesale retail company.
Boxed hasn’t put out a press release or released a Securities and Exchange Commission (SEC) filing that explains today’s gains. However, traders will remember that earlier this month the company announced it was in negotiations over a forbearance agreement. It also announced a delisting notice, which it doesn’t intend to appeal.
While there’s no update on that today, investors are taking an extra interest in BOXD stock. This has it seeing heavy pre-market trading this morning. As of this writing, more than 6.2 million shares of the stock have changed hands. That’s already closing in on the company’s daily average trading volume of about 10,7 million shares.
What To Know About BOXD Stock
One thing that investors will want to keep in mind is the current state of BOXD stock. The company’s shares are down 40.5% since the start of the year. On top of that, it’s market capitalization is 11.86 million. That, combined with its low shares price of about 16 cents, makes it a penny stock.
Penny stocks can be incredibly volatile. That’s due to how easily retail traders can take stakes in them. Investors will also note that these stocks often see more volatility in pre-market trading. That means they might see BOXD stock give up its early morning gains after the opening bell.
BOXD stock is up 31.6% during pre-market trading on Thursday!
Investors looking for more of the latest stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market happenings for Thursday! That includes the biggest pre-market stock movers this morning, as well as the latest news concerning GameStop (NYSE:GME) and a stock market crash. You can read up on all of that news 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
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