New Meme Stock in Denmark Triggers Warning From Retail Broker
This article is for subscribers only.
Denmark’s first meme stock has prompted one of the Nordic region’s main retail brokers to warn clients to start adapting their investment strategies if they’re to navigate the new market reality.
The American depositary shares in Orphazyme A/S, a tiny Danish biotechnology firm, soared nearly 1,400% at one point on Thursday before adding 137% in Denmark on Friday. When trading started in Copenhagen on Monday, the stock plunged as much as 37%, though the depositary shares jumped 37% as U.S. trading got under way.