Author: William White / Published by: Christian Walter
A few hot penny stocks are seeing major movement on Friday as shares ride higher on recent news. We’re jumping into those below to see why investors are so happy with those companies today.
Hot Penny Stocks: Zomedica (ZOM)
Zomedica (NYSE:ZOM) stock starts us off with shares trading over 11% higher as of Friday afternoon. This comes on news of the company completing a $71 million acquisition of PulseVet.
Today’s ZOM stock news also has it seeing heavy trading. As of this writing, more than 64 million shares of the stock changed hands. That’s an impressive jump from its daily average trading volume of about 27 million shares.
Hot Penny Stocks: AEterna Zentaris (AEZS)
AEterna Zentaris (NASDAQ:AEZS) shares are up next with the stock climbing more than 11% higher as of this writing. That comes despite a lack of news, which means we’re likely seeing a short-squeeze of the shares by retail traders.
To support that, AEZS is seeing unusually high trading volume today. That has some 26 million shares trading as of this afternoon. For perspective, the company’s daily average trading volume is closer to 1.3 million shares.
Hot Penny Stocks: Progenity (PROG)
Progenity (NASDAQ:PROG) stock closes us out today with shares rising over 18% as of this afternoon. Yet again, we’re seeing a penny stock run higher on a lack of news. This is actually a continuation of a meme stock rally that we reported on Thursday.
That rally has PROG stock experiencing heavy trading today. As of this afternoon, roughly 180 million shares of the stock have changed hands. That’s a hefty increase over its daily average trading volume of 9.1 million shares.