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Huadi International Group Co Ltd (NASDAQ:HUDI) shares are trading lower on above-average volume, pulling back after surging in afternoon trading on Friday.
What Happened: Shares of low-float stock Huadi International Group rocketed higher at the end of last week despite a lack of company-specific news.
Huadi has a total float of approximately 4.24 million. 7.06% of the float is currently sold short, according to Benzinga Pro.
More than 36 million shares were traded on Friday and the stock is continuing to see elevated volume Monday. At last check, Huadi's trading volume had exceeded 1.3 million in early trading, already ahead of its 100-day average session volume of approximately 967,000.
Huadi shares are trending across social media platforms as retail traders continue to circle the name. It was the top trending ticker on Stocktwits at last check.
Huadi is a manufacturer of industrial stainless steel seamless pipes and tube products. The company has distribution facilities in over twenty provinces in China and it serves the international steel pipe industry.
See Also: TOP Financial Group Stock Is Falling: What's Going On?
HUDI Price Action: HUDI shares traded up to the $14 level before pulling back late last week.
The stock was down 37.9% at $8.19 at the time of publication, according to Benzinga Pro.
Photo: Jean Martinelle from Pixabay.
Posted In: HUDI
