It’s been a strange few days on the ASX for PainChek…
The post What the heck is going on with the PainChek (ASX:PCK) share price? appeared first on The Motley Fool Australia. –
PainChek Ltd (ASX: PCK) has been dealt a speeding ticket today following its share price and trading volume taking off over the past few days.
The company’s stock finished last Thursday’s session trading at 4.5 cents. Since then, it has surged more than 44% despite no word having been released by the company.
At the time of writing, the PainChek share price is 6.5 cents, the same as it was at yesterday’s close.
Let’s take a closer look at what’s been happening with PainChek’s stock lately.
A quick refresher
PainChek develops and markets its PainChek app.
The app uses artificial intelligence, facial recognition, and smart phone technology to assess pain levels of people who can’t verbalise or self-report their pain.
What’s happening with the PainChek share price?
It’s been a crazy couple of days for PainChek on the ASX.
More than 23 million of its shares have swapped hands since Friday’s open. For context, the average day over the last 4 weeks has seen around 3.1 million PainChek securities traded.
Additionally, the PainChek share price soared 35.5% on Friday and another 6.5% yesterday.
It was in the green again earlier today amid the release of a ‘please explain’ issued by the ASX. In response, the company said it was as confused as anyone else about the change in trading behaviour.
Making the increased price and volume more head-scratching, is the fact the company hasn’t released any price-sensitive news to the market in more than a month.
In fact, the last time the ASX heard price-sensitive news from PainChek was in October when it updated the market on its performance over the September quarter.
Though, it published its non-price-sensitive annual general meeting investor update earlier today.
At its current share price, PainChek has a market capitalisation of around $74 million.
The post What the heck is going on with the PainChek (ASX:PCK) share price? appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.