Shares of Advanced Health Intelligence Ltd. (NASDAQ: AHI) were soaring in the pre-market trading Wednesday, even though there is no apparent news or updates from the digital healthcare company.
Notably, there have been no new earnings reports or filings from Advanced Health Intelligence to explain the sudden rally. In addition, no analysts have provided their insights on AHI stock recently.
Surprisingly, despite the lack of news and analysis, there is a remarkable increase in trading activity during the early morning hours. As of now, over 11 million shares of AHI stock have been exchanged. This volume is considerably higher than the company’s average daily trading volume of approximately 3.8 million shares.
This unpredicted movement is not entirely surprising, considering AHI’s history of substantial fluctuations, potentially influenced by its status as a penny stock.
The volatility in AHI stock can be attributed to its low trading price and market value. Penny stocks, like AHI, are often easier for traders to manipulate due to their affordable nature. This means that a group of traders can collaborate to influence the stock’s price and create substantial price swings.
As of press time, Advanced Health Intelligence (AHI) stock is trading at the price of $1.85, up 150% compared to the previous trading session.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
