Big Tree Cloud Stock Pulls Back After 291% Nasdaq Rally on Compliance News
Big Tree Cloud Holdings Limited surged 291.3% to $7.20 Wednesday, then slid 36.25% to $4.59 after the bell. Traders flagged the sharp move, which hit less than three weeks ahead of a Nasdaq compliance cutoff. There was no new earnings release or corporate news tied to the swing. Robinhood’s numbers flagged a wild day for the stock. Trading volume hit 113.59 million shares, way above the average 11.40 million. The price swung in a huge range, from $1.90 up to $19.90. Such heavy trading can pull in momentum traders, though it can push the price away from what’s happening in the business.