This translation has been automatically generated and has not been verified for accuracy.A raft of small cap stocks has soared by hundreds of millions of dollars in value in recent weeks as frenzied retail traders piled in to a blistering stocks rally.
Chasing the so-called FANG stocks , which powered the Nasdaq 100 above 10,000 points for the first time ever, investors also bought FANGDD at pricey levels, traders say. “This is what you get when the markets are powering ahead and investors will latch onto anything that has a name that linking to tech stocks,” said Jawaid Afsar, a trader at Securequity Ltd.
FANGDD issued a statement on Wednesday warning investors the trading price of its ADSs “could be subject to significant volatility for various reasons that are out of the company’s control.” Last week, a similar euphoria was seen in bankrupt or soon-to-be-bankrupt stocks with Hertz, Chesapeake , Whiting and JC Penney rising 300% to 500% before pulling back a bit, leaving seasoned traders scratching their heads.
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