MoSys Inc. (NASDAQ:MOSY) stock is one of the biggest gainers in the morning session on Friday. The stock is seeing a very unusual volume.
At the time of writing, MOSY stock is up by 36% at $3.93 after soaring as much as 72% just a few minutes ago. The stock has seen a total volume of 29.25 million shares in the first hour of trade, well above its 30-da average volume of 1.32 million shares.
Interestingly there is no news to justify today’s rally. Last week, the company released its first-quarter results. Total revenue during the quarter fell to $1.3 million, compared with $1.6 million for the previous quarter and $1.3 million for the first quarter of 2020.
On an adjusted basis, the company had a loss of $1.3 million, or 28 cents a share, compared to $1.0 million, or 27 cents a share in a year-ago quarter.
Keep an eye on MOSY stock if it gains further momentum later today.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.