MMA Global Inc. (OTCMKTS:LUSI) was in special limelight on Tuesday as the stock witnessed a huge rise in price along with massive volume. Moreover, the stock almost reached its new high in the previous trading session.
LUSI stock closed higher by a whopping 200% to $0.0600. What is more interesting is that the stock had witnessed its highest one-day volume at least in the past year. Total volume for the session stood at 7.17 million shares, compared to its average volume of 66k shares. The stock had started the session with a mild jump and picked up momentum in late morning trading as the stock went up as much as 350% to a new 52-week high of $0.0900.
So what triggered such a big move? Well, there was no news and as we all know penny stocks often do need news to trigger a big move.
But, one should note that the company does not have any active official website, and one needs to be careful while trading momentum-driven penny stocks. The company had a market capitalization of $38.8 million (based on the closing price on July 07, 2021).