Educational services firm Zovio Inc (NASDAQ:ZVO) was one of the companies to have come into sharp focus among investors this past Friday and that was quite clear from the price action in its stock. The stock ended up with gains of as much as 12% amidst considerable interest. It is likely that the stock is going to come into focus among investors today as well and hence, it may be a good idea to take a closer look.
Trading Data
On Friday, ZVO stock went up 12.30% to $1.37 with more than 126k shares, compared to its average volume of 120k shares. The stock has moved within a range of $1.2000 – 1.3900 after opening trade at $1.23.
Major Development
However, it should be noted that there was no news about the company last week and in fact, the last time any news emerged about Zovio was back on December 9, 2021.
At the time, the company made an announcement with regards to the inducement awards that it had made to Randy Hendricks, its Chief Executive Officer, back on December 6, 2021.
It should be noted that the company has also announced that the grant had been made as per the rules and regulations of the NASDAQ Stock Market that govern such grants. While it was an important piece of news, it may not have had an effect on the rally in the Zovio stock on Friday. It may be a good idea to keep an eye on it today.
Technical Data
ZVO stock is trading below the 20-Day and 50-Day Moving averages of $1.38 and $1.45 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.36.
