Regencell Bioscience Holdings Ltd RGC

Low-float stocks with Hong Kong-based companies

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Low-float stocks with Hong Kong-based companies are popular right now.
After going public on July 15 at a price of $7.80, $HKD reached a high of $2,555.30. However, it had a severe accident on August 1.

$MEGL experienced a run from its IPO price of $4 to $249.94 after $HKD. Since then, it has decreased to $13.

On Friday, $GCT, which had an IPO price of $12.25 on August 18, ended at $48.01 and appeared to be the play.

You may be thinking, "What else?"

Regencell Bioscience ($RGC) might be a stock to keep an eye on. According to stockanalysis.com/ipos/2021/, $RGC is the best-performing stock among all IPOs in 2021. RGC was ranked first up until August 1, 2022, with a return of 237% above its IPO price of $9.50.

$RGC fits the current trend by having a low float and being situated in Hong Kong. According to a June 2022 report, $RGC has approximately 19 million shares totaled in cumulative short volume. $RGC has performed well despite the attacks from short sellers that have plagued the company since its launch. Due to the founder and CEO's recurrent purchases of RGC common shares on the open market, $RGC has a low float and around 2.6 million marketable ordinary shares.

$RGC is closely owned by its CEO, who owns more than 81% of the business, as was already mentioned. Since $RGC's IPO, he has spent $5.9 million of his own money to buy company shares on the open market.
The corporation has avoided being taken advantage of by short sellers and hedge fund managers who have been buying large amounts of stock, with the CEO being the exception. Just over 2.6 million of the company's shares are now traded on the market.