green wave technology (NASDAQ:GWAV) The stock continues to rise as it becomes the new favorite of traders on Reddit.
It was another day of increased trading in GWAV stock, with no relevant news behind the rally. The company made a similar move yesterday, despite notifying investors that the filing of its quarterly financial report would be delayed.
The interest in GreenWave Technology comes amid a week of meme stocks trading in the wake of Roaring Kitty’s resurgence. This is the man who started the rise of meme stocks in 2021. With their return, investors will likely be hoping for a repeat of 2021 in 2024 as well.
However, not everything looks the same as it did then. Instead, speculative traders are picking other stocks that will rise in this year’s meme rally. Looking at the recent sharp rise in stock prices, GWAV seems to be among them.
Today’s GWAV stock price trend
Interest in GWAV stock has led to heavy trading in the metal recycling company’s stock. As of this writing, over 570 million shares have changed hands. This is a significant jump compared to the company’s average daily trading volume of approximately 59.5 million shares.
GWAV stock was up 61.6% as of Friday morning. However, these stocks are still down 60.1% since the beginning of the year.
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On the date of publication, William White did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer and are influenced by InvestorPlace.com. Publishing guidelines.
