Why Is CN Energy (CNEY) Stock Up 46% Today?

Core Viewpoint - CN Energy (NASDAQ:CNEY) stock is experiencing significant trading activity, with over 11 million shares changing hands, far exceeding its average daily volume of approximately 227,000 shares, despite no new news or analyst coverage [1] Group 1: Stock Performance - CNEY stock has increased by 45.9% as of Wednesday morning [2] - The stock is currently trading at $1.33 per share, categorizing it as a penny stock with a market capitalization of about $6.223 million [1] Group 2: Trading Characteristics - The heavy trading activity is noted to occur without any press releases or filings from CN Energy, indicating potential manipulation or volatility typical of penny stocks [1][2] - The float of CN Energy is approximately 2.22 million shares, which contributes to its volatility [1]