Hello Pal (NYEXPERT: HLLPF) stock jumped 35,900 percent yesterday. No, we have not added too many zeroes there. That really was the price rise. This was also a real price rise, not just some stock split, reverse or not. A real, honest to goodness, 35,900% change in the real price of 360 times. Wouldn't we all wish that all of our investments would do that? Or even that we'd manage to latch on to one or two ofthese in a week?
It's not quite and not wholly what it seems though. For the price fall the day before was of equally great value:
Hello Pal stock price from NASDAQ
No, really, the price went from just above 4 cents ($0.0413) to one hundredth of one cent ($0.0001) and then bounced back up again the next day to 3.6 cents ($0.036). We are seeing the 35,900% rise today on the tickers but that's not the surprise price move at all. The surprise, the thing that needs explaining, is the drop to that one hundredth of once cent the day before.
Our read on this is highly tentative but we'd suggest that this is a function of very thin trade. Even at this, full, price there were only 50,000 shares traded yesterday. So maybe $1,500 worth. It's just not a majorly traded stock. So, all it would take to wildly change the quote is for someone to place a sell order at some silly price and the quote would indeed change. Yes, this does happen too. Not all that often, but a few times a month. In low volume shares someone decides - for a joke maybe, as a manipulation possibly - to play with prices. It is possible, with trades amounting to a few hundred $, to worldly change quoted prices.
Now, we don't know that this is what happened but given the available evidence we'd say that it is. The 35,000% price rise yesterday isn't the important information here, it's the drop the day before of the same size that is.
As to what Hello Pal actually does, it seems to be a chat app aimed at the SE Asian market. Before that it was a Litecoin miner with a facility in the US and one in Australia. Which means, to us at least, that the interesting thing about Hello Pal is the price drop yesterday and nothing else.
