Hug (NASDAQ:DogsThe stock is rallying on Friday as investors react to the recent volatility surrounding the stock.
The latest news from Dogness concerns a deal to expand the availability of its products at a major pet store. The announcement was made on Wednesday and DOGZ stock was largely unaffected by it.
Instead, investors the next day saw DOGZ stock take a massive hit. The reason behind this fall is unknown, but it did not give stock traders any credit that day. This momentum appears set to continue this morning with the stock dropping before entering the market and shortly after the opening bell.
However, this decline was short-lived as the stock price quickly climbed higher, exceeding the closing price from Thursday. While the stock is now rising, it is still close to its roughly $9 price before Thursday’s low.
So while we don’t know what’s behind all this recent movement, we can see heavy trading in stocks. As of this writing, more than 28 million shares of DOGZ stock have been traded. This is a massive increase compared to the company’s average daily trading volume of around 1.6 million shares.
It is worth noting that the DOGZ stock is firmly in the area of the small arrows. As such, investors will want to be careful about investing in it now. This is especially true as it is unclear what caused the recent volatility, which led to trading halts three times this morning.
DGOZ stock is up 6.6% as of Friday morning.
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Posted in William White He did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, and are subject to InvestorPlace.com Posting Guidelines.
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