Entertainment

A Danish biotech stock surged 1,387% during US trading hours for no apparent reason amid chatter that it's getting the meme-stock treatment

1 day ago   |   By Business Insider

Peter Dazeley/Getty Images
Peter Dazeley/Getty Images
Orphazyme, a Copenhagen, Denmark-based biotech company, surged 1,387% in US trading Thursday.
The small biotech firm said it wasn't aware of any material changes to the company.
Orphazyme was the eighth most-mentioned stock on Reddit's Wall Street Bets Thursday.
See more stories on Insider's business page .
Shares of a small Denmark biotechnology company surged as much as 1,387% in US trading hours Thursday as chatter about the stock jumped on Reddit's Wall Street Bets. Orphazyme, which is researching treatment for rare diseases, closed...
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Meme stocks are transforming the market thanks to Reddit traders. Here's what it means to be a meme stock - and why they're viewed as a whole new asset class

1 day ago   |   By Business Insider

SOPA Images / Getty
SOPA Images / Getty
Meme stocks are becoming harder to define as more and more are added to the basket.
But a few things are true: they have a big social media following and opportunity for price movement.
Meme stocks are a from of "social uprising," said one market strategist.
See more stories on Insider's business page .
Ever since retail traders drove a record rally in shares of GameStop earlier this year, a new term has emerged on Wall Street. Meme stocks. The term - used as a catch-all to talk about a group of companies that have seen their stock surge since the...
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