Why Is Toro (TORO) Stock Up 38% Today?

Toro (NASDAQ:TORO) stock is on the rise Thursday despite a lack of news from the tanker operator today.

Instead, it looks like heavy trading explains what’s moving shares of TORO stock higher today. As of this writing, more than 736,000 shares of the company’s stock have changed hands. That’s already above its daily average trading volume of about 678,000 shares.

Outside of this, there’s no news that explains why TORO stock is climbing higher on Thursday. However, investors will note that its low stock price and market capitalization open the company up to volatility. That means they may want to avoid the shares considering the recent activity.

One Possible Reason TORO Stock Is Up

It may be possible that TORO stock is gaining today due to a misunderstanding. While Toro doesn’t have any recent news, Toro (NYSE:TTC), a completely different company, does. This Toro is preparing to release its latest earnings report this morning.

It could be that investors have been buying up shares of TORO stock thinking they’re making an investment in TTC. If that’s the case, it may result in shares of TORO taking a beating later today once the mistake is realized.

TORO stock is up 37.7% as of Thursday morning.

Investors looking for even more stock market news this morning will want to keep reading!

We’ve got all of the hottest stock market coverage traders need to know about on Thursday morning. That includes the biggest pre-market stock movers this morning, as well as updates on AMC Entertainment (NYSE:AMC), and more. You can catch up on all of this news by checking out the links below!

More Thursday Stock Market News

• Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
• Why AMC Stock Is a ‘Zombie’ in the Market Right Now
• Why Is the Voyager (VGX) Crypto Up 50% Today?

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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Read More: Penny Stocks — How to Profit Without Getting Scammed

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