Why Is Charge Enterprises (CRGE) Stock Up 28% Today?

Charge Enterprises (NASDAQ: CRGE ) stock is on the rise Friday despite a lack of news from the electric vehicle (EV) infrastructure company . There are no new press releases from Charge Enterprises or filings with the Securities and Exchange Commission (SEC) that explain why its shares are up today.

On that same note, no analysts are offering updated coverage of CRGE stock on Friday. Even without any recent news, shares of CRGE stock are seeing incredibly heavy trading on Friday. That has more than almost 20 million shares of the stock changing hands as of this writing. For the record, that’s already well above the company’s daily average trading volume of about 1.1 million shares.

One thing investors will keep in mind is that CRGE is a penny stock. This comes from its low trading price of just 8 cents and market capitalization of only $17.461 million. Why That Matters to CRGE Stock Penny stocks like CRGE can often be volatile. That’s doubly true outside of normal trading hours.

This is often due to certain types of traders manipulating the stock. If that’s what’s going on with Charge Enterprises today, investors will want to be wary about taking a stake in the company. It could leave them holding the bag if these traders perform a pump and dump of the shares. CRGE stock is up 28.1% as of Friday morning.

Investors looking for more of the latest stock market stories are in luck! We have all of the hottest stock market news reading to go on Friday! Among that is why shares of Volcon (NASDAQ: VLCN ) stock are up, the biggest pre market stock movers this morning and more. All of that is ready to go at the links below! More Stock Market News for Friday Why Is Volcon (VLCN) Stock Up 59% Today? Today’s Biggest Pre Market Stock Movers: 10 Top Gainers and Losers on Friday TSRI Stock Earnings: TSR Reported Results for Q2 2024 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.