Crown ElectroKinetics (NASDAQ:CRKN) stock is on the rise today, despite the lack of any significant news driving the optical switching films company’s shares higher. The only noteworthy update from Crown ElectroKinetics is that it will be delayed in filing its latest earnings report, a detail disclosed to the Securities and Exchange Commission (SEC) in a recent filing.
Although this news typically wouldn’t draw much attention to CRKN stock, it is experiencing heavy trading this morning, with over 685,000 shares being exchanged so far. It’s important to note that the company’s average daily trading volume is around 18.9 million shares.
Today’s interest in CRKN stock is not due to low float manipulation, as the company’s float currently stands at 51.31 million shares. Additionally, short interest in the company is relatively low at 3.44% of its float.
However, traders should be aware that CRKN is considered a penny stock, with a previous closing price of 5 cents and a market capitalization of $6.613 million. These factors make it susceptible to pump and dump schemes by retail and day traders.
Despite the stock’s 192.2% increase on Thursday morning, it is still down 6.8% year-to-date. For more stock market updates, investors can explore news on Lucy Scientific Discovery (NASDAQ:LSDI), Chubb (NYSE:CB), and AST SpaceMobile (NASDAQ:ASTS) stock.
It’s important to exercise caution when dealing with penny stocks and low-volume stocks, as they can be targeted by scam artists and market manipulators. Investors should always be aware of the risks involved in trading these types of stocks.
On the date of publication, the writer of this article did not hold any positions in the securities mentioned. The opinions expressed are solely those of the writer and adhere to InvestorPlace.com’s Publishing Guidelines.