Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading
Puhui Wealth Investment Management Co Ltd (NASDAQ: PHCF) gapped up 43.4% premarket despite not making any major announcements to warrant the move higher.
PHCF stock was driven higher by retail investors in a coordinated short squeeze just like they did back in February.
Puhui Wealth Management has been a target of retail traders in the past, as evidenced by the February spike higher that saw its stock trade at an all-time high of $9.11.
Given its low valuation, the Chinese third-party wealth management firm does not issue regular updates, with most of its stock price movements driven by retail investors.
PHCF stock had given up over half of its premarket gains at the time of writing.
It remains to be seen whether today’s rally shall extend to tomorrow, given that the February spike higher lusted just two days before prices came back down and went on to trade sideways.
*This is not investment advice.
Puhui Wealth (PHCF) stock price.
Puhui Wealth stock price gapped 43.43% higher to trade at $3.60, rising from Friday’s closing price of $2.51.
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