by wfuiii | August 31, 2016 5:56 pm
I am relatively new to trading and still trying to figure out how all of this works….or at least minimize the damage I have somehow inflicted on myself over the past year. I noticed a stock recently $SPU (Skypeople Fruit Juice) that is a chinese company that sells fruit concentrates. The price of their stock has had some extreme movements as of the past couple of months and today alone rose 51%. I trade on Schwab and I was trying to do my DD and here is what is confusing me.
The company has a market cap of $34M with a little over 4M shares outstanding. Their average volume (10 day) is 1.4M shares and today’s volume was over 10M shares traded. How does this happen and what am I missing? This would mean that each share would have changed hands 2.5 times today alone….right? I will apologize in advance if I am missing something here that is part on Investing 101….but just thought I would ask.
Source URL: https://www.stockgumshoe.com/2016/08/microblog-skypeople-fruit-juice-inc-spu/