June 17 (UPI) -- Shares in Hong Kong-based Regencell Bioscience Holdings nearly quadrupled in value amid a 38-to-1 stock split despite the firm reporting no revenues.
The stock split triggered a 280% share price increase on Monday, CNBC reported, and continued a 58,000% increase in its price in 2025, with a closing cost of $78 per share on the NASDAQ trading platform on Tuesday.
The stock reached a high of $81.23 during morning trading and slumped slightly to $75.47 during Tuesday's after-hours trading.
The stock is rated as a "buy" on the TipRanks website after Regencell officials on June 2 announced the stock split to improve its liquidity and value for shareholders.
The stock split gave investors 37 shares for each share held on June 12. The shares began trading on a split-adjusted basis on Monday, according to Seeking Alpha.
