Penny Stock’s 1,500% Jump Fueled by Reddit Left CEO Dumbfounded – Bloomberg

A meteoric rally in an Australian penny stock is fast unraveling after confounding not just market watchers but also the company’s CEO.
BrainChip Holdings Ltd., an artificial intelligence-focused startup whose flagship product is yet to be made widely available for commercial use, saw its 2020 gains propel to 1,500% earlier this month. While concerns about overheating have seen the stock getting hammered since, its 709% advance year-to-date still makes for one of the best performances among tec…

Click here to view the original article.