Herbal Medicine Stock With No Sales Rallies 64,000%

A biotech stock focused on herbal medicine has surged by more than 46,000% so far this year and yet, the company itself has made zero revenue — much less turned a profit.

The unbelievable rally has transformed Regencell Bioscience Holdings Limited, a penny stock as recently as April, to one worth nearly $30 billion in market value. A year ago, the stock had a market capitalization of just $53 million. This is despite the company having a net loss of $4.4 million for its fiscal year that ended June 2024, a 28% decrease from the previous year.