RC365 Holdings (LON: RCGH) shares are up 200% (at times) this morning in London. We've absolutely no news at all explaining why this might be so. At least at our pixel time there's no corporate news release, nothing to the exchange. Also nothing on the wires or in press releases. It's therefore necessary to speculate on why this might be, what could be happening. Our assumption - the absence of any other information - is that we're getting a slight Americanisation of the London market here.
Now, please do note that this is purely our speculation in the absence of any other explanations on offer. So, accept it for what it is, a speculation.
RC365 is something vaguely financial and Far East. Which is, we think, what the speculation in the shares is about. We've had enough of these recently on NASDAQ and why shouldn't the idea spread to London?
RC365 Holdings share price from London Stock Exchange
There's real trade at these prices, despite the absence of any news. So, as we say, our speculation - this is AMTD, Top Financial, all over again.
There's been a series of speculations about stocks vaguely financial and vaguely Far East in recent months. The AMTD twins, Top Financial, MEGL and so on all quoted in the US. All driven buy nothing so sordid or detailed as their actual business prospects. Rather, speculators piled in because some story could be told about the fortunes to be made in the perfumed bazaars of the Far East. All of which faded away pretty sharpish. Because they were just speculations based upon momentum trades and when the momentum runs out so does the trade.
As we say we can't be sure that this is what is happening with RC365 Holdings because there simply is no information update to hang any view upon. It is in the absence of that that we conclude - very tentatively - that it's just an outbreak of speculation based on pretty much nothing. If further information does arrive to challenge that then undoubtedly we will change our view.