2023-05-03 13:52:23 ET
Hong Kong brokerage TOP Financial ( NASDAQ: TOP ) stock rallied again Wednesday, with shares up 1,150% since last Wednesday's close.
Shares of TOP recently changes hands at $84, up 60% from Tuesday's close, at around 1:10 p.m. ET. The stock opened at $53.41, later hitting a high of $93.94 mid-morning.
TOP shares have been highly volatile over the past week despite no apparent news or SEC filings. The stock, which closed at $6.72 last Wednesday, rocketed 200% on Thursday and 1,200% on Friday. It then shifted gears to fall 52% on Monday but rose modestly on Tuesday.
Last Friday, TOP said that while it normally didn't comment on market activity, it believed it needed to urge investors to "rely solely" on SEC filings or statements issued by either the company or its authorized representatives.
TOP, formerly known as Zhong Yang, held a $25M initial public offering in June 2022, pricing shares at $5 apiece. According to Yahoo Finance data, TOP has a stock float of around 5M shares.
For more on TOP, check out Alberto Abaterusso's "TOP Financial Boomed on Meme Trading, Now What" and Tim Worstall's "TOP Financial: Manias Do Exist, You Know."
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Hong Kong's TOP Financial stock has gained 1,150% over past week