Why Is Crown ElectroKinetics Stock Up 419% Today?
The company’s daily average trading volume is about 18.9 million shares. However, it has more than 685,000 shares changing hands as of early trading.
Source: InvestorPlace
- Crown ElectroKinetics (CRKN) stock is up on Thursday alongside heavy trading of its shares.
- That’s despite lack of news that would cause such an interest in the company.
- The only news posted concerns the notice of a late filing for its quarterly earnings.
Crown ElectroKinetics (NASDAQ:CRKN) stock is rising higher on Thursday without any news that would cause the optical switching films company’s shares to rally today.
The only noteworthy news from Crown ElectroKinetics today is that it will be late filing its latest earnings report. The company let the U.S. Securities and Exchange Commission (SEC) know about this issue in a filing today.
This isn’t the kind of news that should attract attention to CRKN stock. Even so, it’s seeing heavy trading this morning. That has more than 685,000 shares changing hands as of this writing. Investors will keep in mind that the company’s daily average trading volume is about 18.9 million shares.
More CRKN Stock Details
Today’s interest in CRKN stock isn’t even a case of it being a low float push. The company’s float is currently sitting at 51.31 million. Likewise, short interest in the company is relatively small at 3.44% of its float.
Even so, traders will keep in mind that CRKN is a penny stock. That comes from its prior closing price of 5 cents and its market capitalization of $6.6 million. Both of these make it a prime target for a pump and dump by retail and day traders.