Baosheng Media (NASDAQ:BAOS) shares are surging this Thursday, with no discernible news from the Chinese media company driving the uptick.
There have been no recent press releases from Baosheng Media to account for today’s upward movement. Similarly, no new filings with the Securities and Exchange Commission (SEC) are shedding light on the reasons for this jump. Moreover, the absence of fresh analyst coverage makes it harder to pinpoint a cause for the rally.
Nevertheless, it’s important to remember that the absence of obvious news doesn’t mean the BAOS stock is moving in a vacuum. Notably, there’s a significant uptick in trading activity involving the company’s shares today. As of the time of writing, the transaction volume has reached a staggering 16.34 million shares, dwarfing its average daily volume of approximately 161,944 shares.
In terms of performance, BAOS has seen a significant rise of $14.04, marking a gain of 136.76%. The stock has been traded within a day’s range of $9.23 to $14.51, with a 52-week range of $3.00 to $23.30.
It’s worth noting that Baosheng Media’s full-year earnings for 2022 showed a loss of US$15.47 per share, a deepening from the US$4.62 loss per share in FY 2021.
Traders should bear in mind that BAOS ended regular trading hours on Wednesday at $5.93 per share, with a market capitalization of $9.1 million. This valuation, along with today’s surge, positions the company’s shares in the penny stock category.
In the broader market, BAOS leads today’s gainers with a last price of $14.04 and a volume of 16.34 million shares. Also performing well are MIMO, with a last price of $0.23 and a 73.81% increase, CVNA at a last price of $24.23 with a 56.02% increase, RGTI with a last price of $1.38 and a 33.33% increase, SNTG at a last price of $3.19 with a 28.11% increase, and a stock ticker NA with a last price of $2.72 and a 25.93% increase. All these stocks join BAOS on the list of top gainers for today.
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