new-recommended-broker-banner new-recommended-broker-banner
Practice Stock Trading Your capital is at risk

Here’s Why Zivo Bioscience Stock Soared 116.8% Higher During Premarket Trading

Updated: 24 Sep 2021

Zivo Bioscience Inc (NASDAQ: VIVO) shares were surging again despite the biotech company not making any new announcements today.

Zivo shares are rallying higher for the second time this week following their initial surge higher on Monday, which we covered here.

Just like on Monday, there are no fundamental driver’s behind today’s rally, except for the fact that retail investors are back in full swing to push the company’s stock price higher.

new-recommended-broker-banner

Investors had traded almost 11.6 million Zivo shares at writing, which explains the surge higher than the stock’s average daily traded volume of 612,981 shares.

Zivo shares had so far given up most of the gains accumulated n Monday, which is a common characteristic of parabolic rallies. Still, it appears the bulls are back to push the company’s shares higher.

Zivo Bioscience Stock Soared 199.3% Amid Premarket Buying Frenzy.

Some would like to characterise Friday’s and Monday’s rallies in Zivo stock as short squeeze’s, but the outstanding short interest in Zivo shares is relatively minimal.

Still, it seems that investors are keen to see Zivo stock trade higher given Monday’s rally and today’s rally as the trading week draws to a close.

We do not know how long the current rally will last, but day traders may find multiple trading opportunities in the stock due to the high volatility.

Meanwhile, I will be monitoring the stock to see if there are any fundamental drivers behind today’s move and will update readers when such information is available.

*This is not investment advice.

Zivo Bioscience stock price.

Tradingview chart of Zivo Bioscience stock price 24-09-2021

Zivo Bioscience stock price was up 116.81% to trade at $7.48, rising from Thursday’s closing price of $3.45.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .