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VS Media (NASDAQ: VSME) stock is experiencing a significant surge in price on Thursday, accompanied by a high volume of pre-market trading in the shares of this investment holding company. Over 12.4 million shares of VSME stock have been traded so far, well above its average daily trading volume of 312,000 shares and surpassing the company’s float of 1.53 million units.
Notably, this price movement is occurring without any new developments from VS Media, such as press releases or filings with the SEC, and there is no analyst news driving the rally.
It’s important to acknowledge that VSME is classified as a penny stock, with a previous closing price of 73 cents and a market capitalization of $2.365 million.
Implications for VSME Stock
Investors should be aware that penny stocks can be highly volatile, often experiencing fluctuations without significant news catalysts. The current surge in VSME stock may be driven by speculative trading or retail investors engaging in pump-and-dump schemes, making it a risky investment at this time.
As of Thursday morning, VSME stock is up 86.3%.
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William White has no positions in the securities mentioned. The opinions expressed are in accordance with InvestorPlace.com Publishing Guidelines.