SPAR Group Inc. (NASDAQ:SGRP) Stock Suddenly Jumps 28%: What’s Going On?
SPAR Group Inc. (NASDAQ:SGRP) jumped 28%, although there is no notable SEC filing or company-specific announcement driving the surge. It seems external factors could be at play. Retail trader on social media seems to be coordinating SGRP’s jump.
Investors have been citing the stock’s low floats on social media trading groups as a chance to buy in. over the past, retail investors’ social media engagements have driven stocks such as GameStop and AMC up during the famous meme craze. Therefore, SGRP seems like a potential candidate that is gaining on this trend.
The company deals with marketing and merchandising, offering various services to manufacturers, retailers, and distributors worldwide. SPAR Group has more than four decades of experience with over 25,000 merchandising specialists globally and an average of at least 200,000 store visits weekly. Similarly, the company has long-term collaborations with leading retail businesses and manufacturers. So, in the coming weeks, SGRP is a stock worth keeping an eye on.
Market Reaction:
On Monday, SGRP stock surged 27.75% at $2.21 with more than 127 million shares, compared to its average volume of 133k shares. The stock has moved within a range of $1.7624 – 3.8600 after opening the trade at $1.78. Over the past 52-week, the stock has been trading within a range of $0.6600 – 3.8600.
