Denmark has its own GameStop moment with 1,387% spike in Danish biotech firm shares

Bloomberg2021-06-12

Orphazyme A/S says it has no idea why its American depositary shares surged overnight. Danish investors and analysts spent the morning trying to figure out why a tiny biotechnology company suddenly ...

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精彩评论

ElzanT
2021-06-14
ElzanT
Yay
AnnNann
2021-06-14
AnnNann
I have some gamestock
hellotomato
2021-06-13
hellotomato
Like and comment
- Dac19:
  Done. Comment back.
NPC69
2021-06-13
NPC69
Like.
peng96
2021-06-13
peng96
True
KK_SG
2021-06-13
KK_SG
[Smile]

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","collect":0,"end_time":0,"defaultTopTitle":"theedgesingapore.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GME":"游戏驿站"},"translate_title":"丹麦的生物技术公司股价暴涨1387%,这也是丹麦的游戏驿站时刻","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GME":0.9},"content_text":"Orphazyme A/S says it has no idea why its American depositary shares surged overnight.\nDanish investors and analysts spent the morning trying to figure out why a tiny biotechnology company suddenly soared almost 1,400% during US trading hours.\nOrphazyme A/S says it has no idea why its American depositary shares surged overnight. When trading started in Copenhagen, the Danish shares rose as much as 76%. The company has now warned investors against being sucked into the frenzy.\n“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,” Orphazyme said on Friday morning.\nThe only reasonable conclusion to be drawn is that Denmark now has its own meme stock, according to Per Hansen, an investment economist at retail broker Nordnet in Copenhagen. “It’s not just GameStop and AMC that are the subjects of strange, sudden and inexplicable” price developments, Hansen said in a client note.\n“Sometimes, there’s no logical explanation for what happens on the stock market,” he said. “And the development in the share price of Orphazyme is an example of that.” Orphazyme’s ADS soared as much as 1,387% during US hours, before closing about 302% higher.\nOrphazyme said it’s “not aware of any material change in its clinical development programs, financial condition or results of operations that would explain such price volatility or trading volume.”\nInvestors in the company have been waiting for an important update on the application of an experimental treatment for Niemann-Pick disease. 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