(Bloomberg) – Tiny Healthcare Triangle Inc.'s stock stood out on the U.S. exchange on Thursday, another example of how investors' thriving in the stock market as a whole.
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The little-known healthcare information technology company's share price doubled its price for more than 5 cents, with more than 3 billion shares changing hands. That's equivalent to 15% of the total stocks traded on U.S. exchanges, Bloomberg data shows.
After soaring 138% in the Open, the Medical Triangle shares rose 115% with no obvious news to spark compelling moves. The company did not immediately respond to a request for comment.
The total value of the stocks traded on that day was about $150 million, almost seven times the company's market value.
The surge is one of the latest manifestations of Meme Stock Mania, which inspired the speculative name, with Kohl's Corp., Goproinc. Krispy Kreme Inc. is on the list of companies holding huge moves in the shares. Opendoor Technologies' stock was also well-known for large-scale trading volumes on Monday.
While the number of stocks drawn to crazy is growing, the rally has been volatile and often short, raising questions about whether these companies can use their increased share prices to boost fresh capital, what AMC Entertainment Holdings Inc. and GameStop Corp. do in the original 2021 MEME stock.
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