HX Stock: Why The Price Substantially Increased

By Amit Chowdhry ● Oct 20, 2021
  • The stock price of Xiaobai Maimai Inc (NASDAQ: HX) increased by over 110% this past week. This is why it happened.

The stock price of Xiaobai Maimai Inc (NASDAQ: HX) increased by over 110% this past week. There are no company-specific reports or government filings that are driving up the price so it appears external factors are at play.

Investors on stock trading forums appear to be discussing short squeeze coordination this week. It’s also worth mentioning that HX has a low float, which makes it easier for day traders to drive momentum.

Xiaobai Maimai is known as a social e-commerce platform based in Beijing, China. And the company collaborates with domestic e-commerce platforms and offers users a wide selection of high-quality and affordable products on its social e-commerce platform. Last month, the company announced it is planning to enter the radiation oncology services market in the U.S.

The company had recently established We Health Limited, a subsidiary based in New York, to tap into the cancer therapy and radiation oncology business in the U.S. The Board of Directors also appointed Yilin (Linda) Wang to be Co-Chief Executive Officer. Wang has extensive experience in medical health, health management, and medical technology-related businesses.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.