Health Discovery Corporation (OTCMKTS:HDVY) was in special limelight on Thursday as the stock witnessed a huge rise in price along with massive volume. Moreover, the stock reached its new high in the previous trading session.
HDVY stock closed higher by a whopping 110% to $0.3153. 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 21.51 million shares, compared to its average volume of 1.30 million shares. The stock had started the session with a minor jump and picked up momentum in afternoon trading as the stock went up as much as 116% to a new 52-week high of $0.3350.
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 needs to be careful while trading momentum-driven penny stocks. The company had a market capitalization of $127.39 million (based on the closing price on July 21, 2021).
Health Discovery Corporation operates as a pattern recognition company that uses mathematical techniques to analyze data to uncover patterns primarily in the field of molecular diagnostics in the United States.