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By Anna J. Park
Based on ample liquidity in the global market, some penny stocks ― stocks that are traded at very low prices ― have shown double-digit or triple-digit growth during the past few months or weeks.
Cannabis stock Sundial Growers has spiked as high as $3.96 per share from $0.25 just three months ago. The price fell back to $1.53 Friday, yet it s still sitting at 600 percent growth from late November. Cyprus-based Castor Maritime stock also skyrocketed to $1.73, Feb. 11, a more than 1,000 percent jump from its price of $0.15 three months ago.
The tendency has also been seen on the Korean stock markets as well. As the nation s benchmark KOSPI hovered around a boxed range between 3,000 and 3,200 over the past few weeks, retail investors seeking to maximize profits in a short period of time have increasingly flocked to these penny stocks.
Is penny stocks surge an apparent signal for bubble? koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.