Brazilian interactive design company YDreams (YD.V) jumped 23% today (at the time of writing) from $0.365 to $0.45, it’s highest point since going public earlier this year.
The jump came on no news (much to my annoyance – I wish this company would start announcing some of its deals instead of working in silence), and rather unexpectedly.
Why the big jump? Simply put, there’s no stock out there on the ask.
It won’t take much buying for that thing to spring, and I still dig the tech and people who make it go.
In fact, it’s about 10k of buying away from a double – of course, the other side of that is it’s $1 of selling away from reverting to a flat day.
Life on the pennies.
— Chris Parry
FULL DISCLOSURE: I own YD stock.