Why Is Greenwave Technology Solutions (GWAV) Stock Up 91% Today?

Why Is Greenwave Technology Solutions (GWAV) Stock Up 91% Today?

Greenwave Technology Solutions (NASDAQ:GWAV) stock is up on Thursday despite the company announcing the late filing of its Form 10-Q.

The company notes that it is unable to file its quarterly report for the quarter ended March 31, 2024 by the required deadline. Greenwave Technology Solutions lists being unable to do so without unreasonable effort or expense as to why the filing will be late.

However, traders will note that Greenwave Technology Solutions won’t be too delayed in its filing. The company says it plans to have this quarterly report filed by the end of the five-day extension period under Rule 12b-25 of the Securities Exchange Act of 1934.

GWAV Stock Movement on Thursday

Even with this delayed filing news, shares of GWAV stock are up today on heavy trading. That has more than 195 million shares changing hands. This is well above its daily average trading volume of about 26.7 million shares.

Investors will note that this builds on yesterday’s heavy trading of GWAV stock. That saw some 639 million shares change hands. This resulted in the stock closing out Wednesday up 34.4%.

This rapid increases and heavy trading imply that Greenwave Technology Solutions is up alongside the recent meme stock rally. While some shares have started pulling back from that movement, GWAV is still heading higher.

GWAV stock is up 90.5% as of Thursday morning. The stock was still down 90% year-to-date as of yesterday’s close.

There are plenty more stock market stories worth reading about today below!

We have all of the hottest stock market news ready to go on Thursday! Among that is what has shares of Pineapple Energy (NASDAQ:PEGY) stock up, the biggest pre-market stock movers this morning and more. All of this news is ready at the following links!

More Stock Market News for Thursday

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On the date of publication, William White did not have (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.

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