Why Mogu Stock Rocketed 35% Higher -- Then Plunged by Even More!
Small-cap stocks can be more volatile than larger ones -- something we're all aware of after the last few months -- but Chinese online fashion and "lifestyle" company Mogu (NYSE: MOGU) is really taking the cake Friday morning.
Mogu opened the trading day up by 21% from Thursday's close, then proceeded to rocket to a total of 35% higher before pivoting and plunging sharply. Indeed, as of 12:11 p.m. EDT, the stock was trading 16% below Thursday's close. At its lowest point of the morning, it was off by 43% from the day's peak.
Image source: Getty Images.
Source Fool.com