Hour Loop Inc (NASDAQ:HOUR) shares are trading higher by roughly 150% to $3.95 Tuesday morning on abnormally-high volume. The move higher comes despite any company-specific news to justify the price action.
See Also: Why Icahn Enterprises (IEP) Shares Are Falling Sharply
So What’s Up?
Hour Loop stock is rising on heavy volume Tuesday with 24 million shares traded, representing a marked increase from the trailing 100-day volume of 19k shares. The stock may be trading higher amid a spike in interest among traders and investors across social media platforms.
Volatility in Hour Loop shares could be attributed to the low-float nature of the stock. The sum of shares traded Tuesday has already surpassed the total share float of Hour Loop several times over. The stock has a share float of 1.725 million.
Hour Loop Inc is a technology-enabled consumer products company.
According to data from Benzinga Pro, HOUR has a 52-week high of $5.11 and a 52-week low of $1.41.
