Regencell Bioscience shoots up by 64,000%
Regencell Bioscience Holdings Limited, a biotech company specializing in traditional herbal medicine, has undergone a breathtaking development this year. With an increase of over 46,000%, the company, which was still considered a penny stock in April 2024, has now reached a market value of almost 30 billion dollars. In the previous year, its market capitalization was still a modest 53 million dollars. However, things are not looking rosy financially: In the financial year ending June 2024, Regencell reported a net loss of 4.4 million dollars, a decrease of 28% compared to the previous year. Recently, the board decided to conduct a 38-for-1 stock split, which led to a 283% jump in the share price. This is the biggest daily gain in almost a year. Regencell, which debuted on the Nasdaq Capital Market in 2021, is currently in the research and development phase and has not generated any revenue since its inception. The company is pursuing the ambitious goal of treating neurological disorders such as ADHD and autism with traditional herbal medicine. Despite a promising trial for Covid-19, Regencell's future remains uncertain.
Palantir reaches all-time high
In the USA, Palantir Technologies $PLTR (-0.18%) reached an impressive all-time high on Monday, closing at 141.41 dollars - an increase of around 3% compared to Friday. This positive performance came at a time when US indices were coming back from previous losses, while investors were closely watching the tense developments in the conflict between Israel and Iran. Loop Capital last week called Palantir shares a "train that never comes back" and raised its price target to $155, well above the consensus of $95. Palantir shares are already up nearly 90% this year, attributed in part to the company's growing role with the U.S. government. Palantir's Foundry software platform is now used in several government agencies, including the Department of Homeland Security, showing how important the company has become in the current geopolitical landscape.
Sources:
https://finance.yahoo.com/news/herbal-medicine-stock-no-sales-173944789.html
https://finance.yahoo.com/news/palantir-stock-sets-time-high-204217705.html
