Newegg Commerce Shares Rose 36% This Week -- Here's How
Shares of Newegg Commerce (NASDAQ: NEGG) has gained 35.6% this week, according to data from S&P Global Market Intelligence. The electronics and computer hardware e-tailer was having a completely normal Monday with modest trading volumes and no share-price moves to speak of, until the stock suddenly caught fire. Newegg's stock skyrocketed 58% higher in the last two hours of that day's trading session and hung on to about half of those gains for the rest of the week.
Trading volumes picked up quickly as the share price rose. By the end of the day, 24.8 million Newegg shares had changed hands. The same stock has seen an average daily trading volume of about 1 million shares over the last three months.
The company had no significant news to share on Monday. At the same time, there was plenty of social-media chatter around the ticker, but these Newegg fans focused on the stock's move rather than the possible reason behind it.
Source Fool.com
