Nature’s Miracle (NASDAQ:NMHI) stock is on the rise Tuesday alongside heavy pre-market trading of the agriculture technology company’s shares.
This has more than 11 million shares of NMHI stock changing hands as of this writing. That’s quite the surge compared to the company’s daily average trading volume of about 82,000 shares. Its float is also only 8.07 million units.
There is no news from Nature’s Miracle that explains why the stock is up today. However, it could be due to its connection to the cannabis market. It sells lighting and fixtures used by cannabis growers. That sector has been of interest lately with some seeing newly-announced presidential candidate Kamala Harris as positive on marijuana legalization.
It’s also worth mentioning that NMHI is a penny stock. That comes from its low daily average trading volume, prior closing price of just 35 cents and its market capitalization of only $9.26 million.
What That Means for NMHI Stock
All of this shows that Nature’s Miracle’s shares are subject to volatility. This can happen as speculative traders pile into a company’s stock. That might be happening this morning alongside the current Vice President securing the Democratic presidential candidate position.
NMHI stock is up 94.2% as of Tuesday morning.
Investors will want to stick around for more of the most recent stock market stories!
We have all of the hottest stock market news investors need to know about on Tuesday! Among that is what has shares of Warrantee (NASDAQ:WRNT) stock up, the biggest pre-market stock movers this morning and more. All of that info is ready at the links below!
More Stock Market News for Tuesday
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Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
