๐จ A stock from the US market skyrocketed 4000% in a single day
And then Nasdaq halted trading ๐คฏ
The stock INHD listed on the US market soared from around 1 dollar to 43 dollars in one session after announcing a 3 million dollar AI deal ๐ฅ
The weird part?
The company's main activity is selling used phones in Hong Kong, and its quarterly revenue is only about 931 thousand dollars.
So, news of a 3 million dollar deal boosted the market cap by around 95 million dollars ๐ณ
That's more than 31 times the value of the deal itself.
The news was about an agreement with an AI service provider to develop a sales agent system for used phones using AI technology.
But the hype didn't lastโฆ
Nasdaq halted trading on the stock and requested additional information from the company, and the stock is still suspended ๐ซ
And the strangest part of the surge itself:
๐ป The company reported a loss of 1.08 million dollars in the last quarter
๐ป It executed 3 reverse splits since October 2024
๐ป The total splits equal approximately 1 for 4,800
๐ป The goal was to stay compliant with Nasdaq listing requirements
With all these indicators, just the mention of AI in the news was enough to turn the stock into a one-day rocket ๐
What happens after the halt is lifted? ๐
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