Much to the delight of its long-suffering shareholders, the Stemcell United Ltd (ASX: SCU) share price has been a big mover during trade on Thursday.
In late trade the prospective medicinal cannabis company’s shares have rocketed higher by 22% to 3.3 cents despite there being no news released today.
But with the volume of shares traded up significantly, some investors clearly believe that something is brewing behind the scenes.
Which would be a touch surprising considering the company’s recent insider selling. On September 18 the company’s CEO Huanqing Gu offloaded 15 million shares for a cash consideration of $600,000.
Despite this sizeable share price gain today, Stemcell United’s shares are still down a whopping 83% in the last six months.