Crypto hoarding brings a stock pop for small firmsand in some cases shows patterns of possible insider trading

News Source : Fortune

News Summary

MEI Pharma became the latest firm to exploit a popular stock price hack: When a public company adds crypto to its balance sheet, traders have responded by buying up shares.
Fortune discovered a similar pattern at other small public companies, which suggests that insiders are front-running some of these announcements.
Since January, 184 public companies have announced crypto purchases collectively worth almost $132 billion, according to data from Architect Partners, a crypto M&A advisory and financing firm.
“We’ve kind of hit this point of saturation,” said Louis Camhi, founder of RLH Capital, an investment management and advisory firm that’s helped out on recent crypto treasury deals.

In midJuly, the stock for the cancer drug developer MEI Pharma skyrocketed. It wasnt because the small company, first listed on the Nasdaq in 2003, had discovered a blockbuster cancer cure. Rather, [+10817 chars]

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