Auddia (NASDAQ: AUUD) stock is up some 100% and change over the past 24 hours. There was a 10% rise yesterday followed by some 96% premarket this morning at our pixel time. The difficulty in trading this is in knowing why it started in the first place. For only once we've worked out why the price is rising can we attempt to figure out how far it might go and whether it will fall back at some point. In a near entire information vacuum that's one of the more difficult things to try to do.
Auddia stock price from NASDAQ
That's Wednesday's prices, here's premarket trade:
Auddia early premarket trades from NASDAQ
Ah, OK, so the actual share price movement is a 10% rise yesterday. Then at the open - or close to it this morning - the stock was up 400% at well over $2 and has been falling back, gradually, from that point so far.
Now that's not conclusive. But there's nothing on Edgar over at the SEC. Nothing at our pixel time n even Google News. We've just got the stock price in a tiny ($7 million) microcap going wild in early trade in thin markets. As we say this isn't conclusive. But a useful - possible sensible - conclusion is that someone is having some fun playing with the stock price in those thin markets. It doesn't take that much trade to wildly change prices in a stock this small in those early hours. In the absence of any other explanation that's the one we will run with too.
Or, to put this another way, as we don't know of the reason for the AUUD price movements it's not really possible to predict the next one. Which makes it difficult to decide a trading position.