From Penny Stock to $100 Million in One Day: The Ultimate Meme Stock Has Arrived

Every fiber of my being told me I shouldn’t spend a single sentence discussing  Inno Holdings’ (INHD) 3,661% gain from yesterday. But I couldn’t help myself.

The Hong Kong-based recycler and reseller of used smartphones and other electronic devices was Barchart's number-one bullish price surprise on Monday, with a standard deviation of 4.55 and volume nearing 279 million.

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INHD finished last week’s trading with a market cap of $2.65 million. After yesterday’s surge, its equity is temporarily worth slightly under $100 million.

There was news attached to the massive gain, of course, but it’s hard to imagine anything justifying a $39+ gain in a single day of trading.

Speculation continues to hold a grip over many segments of the markets, including micro-cap stocks like INHD. Inno Holdings is the ultimate meme stock. If you bought when it was a buck, I hope you had the good sense to exit before yesterday’s close. If you bought at $39, you are a patsy.