Why TradeUP Acquisition (UPTD) Stock Is Rocketing Higher

TradeUP Acquisition Corp. UPTD shares are rocketing higher on Friday despite a lack of company-specific news. Here's a look at what's going on.

What To Know:

Shares of UPTD are moving higher on extremely heavy trading volume on Friday.

According to data Benzinga Pro, more than 2 million shares have been traded in the session, compared to the stock's 100-day average of only 28 thousand shares.

TradeUP Acquisition's UPTD stock also has a float of only 884,624 shares.

On Aug. 19, the company announced an extension to the the date by which it must complete its initial business combination from Aug. 19 to Sept. 19, 2023.

TradeUP Acquisition shares have grabbed the attention of retail investors, and the stock is currently the top trending ticker on Stocktwits.

UPTD Price Action: According to Benzinga Pro, TradeUP Acquisition shares are up over 242% at $25.00 at the time of publication.

Image: Stevebidmead from Pixabay

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