When the chart goes vertical and management shrugs
Singapore-based payments software firm TechCreate $TCGL ( ▲ 100.14% ) experienced one of the wildest unexplained moves of the year, soaring 889% on Thursday. The rally was so detached from fundamentals that the company issued a statement saying it is unaware of any undisclosed material information that could explain the surge. In other words, even management is watching the chart like everyone else.
A squeeze setup hiding in plain sight
Trading volume tells the rest of the story. Roughly $280 million worth of shares changed hands in U.S. trading Thursday, about 24 times the stock’s average volume over the prior month. As of mid-January, about a quarter of the public float was sold short, and that float represents only around 15% of total shares outstanding, a structure that can fuel violent short squeezes when momentum hits.
From micro-cap to meme-cap in a single session
Moves like this are rare at this scale. A company that had a market value near $150 million effectively morphed into a roughly $3 billion company in less than a day. The rally is still running, with shares up another 100% in premarket trading Friday morning, suggesting the momentum crowd has fully taken over while fundamentals sit on the sidelines.