What's Going On With Secoo Holding Stock?

Secoo Holding Limited SECO shares are rocketing higher Thursday on heavy trading volume. Here's a look at what's going on:

What To Know:

Shares of SECO reached a high of $2.44 just after the market open on Thursday, and the stock is currently trading more than 450% above its closing price on Wednesday. 

Secoo Holding Ltd. operates online and offline shopping platforms in China, cooperating with brand boutiques such as Versace. The company operates through its shopping website, mobile applications, and offline shopping centers in Beijing, Shanghai, Chengdu and Malaysia. 

Secoo Holding shares are moving on remarkably heavy trading volume Thursday.

According to data from Benzinga Pro, more than 43 million shares have been traded in the session, far exceeding the stock's 100-day average of less than 368 thousand shares traded.

Secoo Holding Limited's stock has attracted attention from retail investors and short-sellers alike. The stock is one of the top trending tickers on Yahoo! Finance, and 9.2% of SECO shares are being sold short, according to data from Benzinga Pro. 

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SECO Price Action: According to Benzinga Pro, Secoo Holding Limited shares are up 459% at $1.79 at the time of publication.

Image: Ahmad Ardity from Pixabay