Addentax Group Corp (NASDAQ:ATXG) is surging and could continue here’s why

Addentax Group Corp. (NASDAQ:ATXG) is currently trading at $5.95 up+1.87 (+45.83%). ATXG currently has a 52 week range of $3.81 – $656.54. At the time of writing this article, more than 20,477,542 shares have exchanged hands compared to an average daily volume of less than a million shares.

So what does ATXG do ?

ATXG claims itself to be an integrated service provider focusing on garment manufacturing, logistics service, property management and subleasing, and epidemic prevention supplies. Recently the company had announced the closing of an underwritten public offering of 5,000,000 shares of its common stock at a price of $5.00 per share.

So why could ATXG keep surging ?

Retail traders could be responsible for today’s surge. ATXG made the headlines after its stock rallied 13,000%. At one time point, ATXG’s value had ballooned to more than $20 billion which at the time made it bigger than about a third of S&P 500 Index members.

It would be interesting to see the current short interest in this stock.