Daily Stock Market News

Why Is Blue Hat (BHAT) Stock Up 345% Today?


industrial factory chief engineer wearing AR headset representing BHAT stock.

Source: Gorodenkoff / Shutterstock

Blue Hat (NASDAQ:BHAT) stock is rocketing higher on Thursday after the company announced plans to shelve a public stock offering.

Blue Hat was previously planning to sell shares and warrants of its stock in an effort to raise funds. However, the company is backing down from this plan. The company also says it hasn’t sold any securities as part of the proposed offering.

The positive movement for BHAT stock today likely has to do with traders celebrating the decision. Without a public stock offering, shareholders in the stock aren’t going to see their stake in the company diluted.

To go along with this news, shares of BHAT stock are seeing incredibly heavy trading today. As of this writing, a massive 151 million shares of the stock have changed hands. That’s an amazing jump compared to the company’s daily average trading volume of only about 263,000 shares.

BHAT stock is up 345% as of Thursday afternoon. However, the stock is still currently down 24% since the start of the year.

Investors looking for more of the most recent stock market news will want to keep reading!

InvestorPlace is home to all of the latest stock market coverage that traders need to know about for Thursday! A few examples include why airline stocks are falling today, why a hedge fund is betting against AMC (NYSE:AMC) and why Weber (NYSE:WEBR) stock is heading higher today! You can catch up on all of this news at the following links below!

More Stock Market News for Thursday

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.



Read More: Why Is Blue Hat (BHAT) Stock Up 345% Today?

You might also like