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HK-Based Herbal Stock Regencell Bioscience (RGC.US) Soars 460x This Yr; Mkt Cap ~USD30B; No Rev. Recorded Yet
Recommend 3 Positive 8 Negative 10 |
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Headquartered in Hong Kong, Regencell Bioscience (RGC.US), a herbal-focused biotech ADR, saw share price surge about 460 times YTD, with its market cap approaching USD30 billion, according to Bloomberg. Regencell Bioscience has yet to report revenue but an annual loss that narrowed to around USD4.4 million for the fiscal year ended June 2024. This company's market cap stood at only USD53 million a year ago. Strangely, this skyrocketing stock has rarely made any major headlines. Regencell Bioscience listed on the lower-threshold Nasdaq Capital Market in 2021 and is still in the R&D stage. As shown by its annual filings with the US Securities and Exchange Commission, it hasn't generated any revenue since its inception. The report suggested that concentrated shareholding might be one reason behind this stock's meteoric rise. Of the nearly 500 million shares issued, only 30 million are publicly traded, accounting for just 6% of the issued share capital. In comparison, Apple (AAPL.US) and Tesla (TSLA.US) have 98% and 87% of their shares publicly traded, respectively. AAStocks Financial News |
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