Trading Desks Stumped by This Tiny Health Stock’s Mysterious 138% Jump
(Bloomberg) -- Traders were puzzled by a mysterious 138 percent surge Friday in NantHealth Inc., a small health-data company run by billionaire Patrick Soon-Shiong.
The stock triggered three volatility halts as it rose the most on record. There was no apparent news behind the move, according to traders and sales desks, and a NantHealth spokesperson didn’t immediately respond to an email request for comment. The next known catalyst for the company is fourth-quarter results expected later this month.
NantHealth’s surge came on more than 16 times the three-month daily average trading volume. NantKwest Inc., another company run by Soon-Shiong, rose as much as 15 percent Friday on elevated volume
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