A Danish biotech stock surged 1,387% during US trading hours for no apparent reason amid chatter that it's getting the meme-stock treatment
- Orphazyme, a Copenhagen, Denmark-based biotech company, surged 1,387% in US trading Thursday.
- The small biotech firm said it wasn't aware of any material changes to the company.
- Orphazyme was the eighth most-mentioned stock on
Wall Street BetsThursday.
Shares of a small
In a statement about the share surge, the Copenhagen, Denmark-based company said it's not aware of any material change in its programs, finances, or operations that would explain the stock move."Investors who purchase the company's ADS or shares may lose a significant portion of their investments if the price of such securities subsequently declines," the statement said.
Per Hansen, an investment economist at Nordnet in Copenhagen, told Bloomberg there's not a logical explanation for the move, adding that GameStop and AMC aren't the only culprits of "strange, sudden, and inexplicable" price developments.Meme stocks have seen a surge of interest in recent weeks amid renewed interest in movie-theater chain AMC Entertainment. As of June 9,
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