Shares of Sentage Holdings Inc.
SNTG,
blasted 183.6% higher toward a 21-month high in very active afternoon trading Friday, despite no news being announced. The China-based financial services company’s stock, which was the biggest gainer among those listed on major U.S. exchanges, has been halted twice for volatility since the opening bell at 9:30 a.m. Eastern. Trading volume has spiked to 44.1 million shares, compared with the full-day average over the past 30 days of about 7,000 shares. The last news reported by the company was on Dec. 22, when it reported a net loss of $1.1 million in the six months to June 30, or 12.5% wider than a year ago. There is no analyst coverage, so there are no estimates to compare the results to. The stock’s rally hearkens back to a time of its “meme”-like surge earlier this year, when it skyrocketed 181% in the two days to May 1. The stock has run up 161.5% year to date, while the iShares MSCI China ETF
MCHI,
has lost 14.1% and the S&P 500
SPX,
has gained 24.3%.
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