reborn cafe (NASDAQ:REBN) stocks are heating up on Monday as investors take note of the California coffee company’s shares.
This is accompanied by a major REBN stock trade. As of this writing, over 4 million shares have changed hands. That’s quite up from the company’s average daily trading volume of around 90,000 shares.
Investors will also note the company’s market capitalization of around $19 million and share price of around $1.41. This places REBN firmly among penny stocks, meaning it could be subject to unexpected and extreme volatility. Today’s high trading volume confirms this idea.
The latest REBN stock news
Investors looking for more substantial news than just heavy trades will have to look back to Thursday. That day, the company announced its expansion into South Korea. The company achieves this through the acquisition of a roasting research and development center in Daejeon.
Reborn Coffee notes that this is part of its global expansion plan. The facility also includes a shop where customers can buy coffee. Investors will keep in mind that Daejeon is South Korea’s “fifth largest metropolis” with some 1.5 million people.
REBN stock rose 33.5% on Monday afternoon.
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As of the date of publication, William White has not held (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.