Why Is Forza X1 (FRZA) Stock Up 145% Today?

Source: shutterstock.com/ViktoriiaNovokhatska

Forza X1 (NASDAQ:FRZA) stock is rocketing higher on Monday after the electric sport boats company teased exciting news was on the way.

Right after markets closed on Friday, Forza X1 sent out a Tweet to its followers. It told them to “Get ready for something extraordinary,” and that they’ll want to “stay tuned” so they don’t miss out on the news.

To go along with that, the company included the electric boat hashtag with its Tweet. A short four-second video also shows the wake of what is likely a boat spreading across the water. It includes the text “Don’t miss the boat.”

While we don’t know exactly what Forza X1 is planning to announce, it’s safe to say it has something to do with its electric boat business. The company didn’t say when it would make any announcements, so investors will just have to hang tight until it does,

How This Is Affecting FRZA Stock Today

Forza X1’s tease of upcoming news has investors excited this morning. As a result, the company’s shares are seeing heavy trading during pre-market hours. This has some 5.2 million shares of the stock changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 124,000 shares.

FRZA stock is up 145% as of Monday morning. If it can keep those gains until markets close it will erase the losses it’s seen since the start of the year.

Investors searching for more of the most recent stock market news will want to continue reading!

InvestorPlace is home to all of the hottest stock market news traders need to know about on Monday! That includes the biggest pre-market stock movers this morning, as well as the latest on Nikola (NASDAQ:NKLA) stock, and more. All of that news is ready to go at the following links!

More Monday Stock Market News

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.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that  InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

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

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