Bitcoin Jumps After Elon Musk Renews Support – Live Updates – –

Bitcoin Jumps After Elon Musk Renews Support – Live Updates – –

reOrphazyme, enmark’s first meme stock, suffered a liquidation this morning as shares in the small biotech firm fell 37% when the market opened in Copenhagen.
The meme stock frenzy arrived in Denmark late last week and now one of the Nordic region’s leading retail brokers warning clients of potential risks ahead.

“The extreme focus on commerce and the media will force the company and its management to work overtime,” Per Hansen, investment economist at brokerage firm Nordnet AB, said Monday in a note to a client.

“It will create additional work and distract” from the management of the business. In addition, “a valuation of a company which is not financially viable or sustainable will not be able, in the long term, to modify a negative evolution” of the underlying activity.

The small biotech company, which has yet to produce a viable treatment or make a profit, saw its US depository stock price soar by nearly 1,400 pc at some point last week.

Orphazyme had a market value of over $ 450 million after trading closed on Friday. Last month it was worth around $ 200 million.

Orphazyme said on Friday that it was “not aware of any material changes in its clinical development programs, financial condition or operating results that would explain such price volatility or such volume of transactions.” He also warned investors against irrational price fluctuations.


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