Reported 2 days ago
Galecto (GLTO), a small-cap biotech firm, experienced a stunning 750% increase in its stock price recently, fueled by a surge of retail investors despite lacking any concrete news or strong fundamentals. While the stock's remarkable rise has attracted attention, the company's financial health raises concerns, as it has no revenue and a growing cash burn rate that could force future capital raises. Analysts remain bearish on the stock, with limited coverage and warnings of potential declines, highlighting the speculative nature of this rally and the risks for investors.
Source: YAHOO