Crypto hoarding brings a stock pop for small firms—and in some cases shows patterns of possible insider trading [Fortune]
MEI Pharma, Inc. (MEIP)
Last mei pharma, inc. earnings: 2/6 04:02 pm
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Source: Fortune
Rather, MEI Pharma's soaring share price coincided with the company's decision to buy up $100 million of the cryptocurrency Litecoin for its treasury. The pop in price, which saw shares go from $3 to a high of $7, wasn't surprising. In announcing the Litecoin purchase, MEI Pharma became just 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 and boosting the firm's value well beyond the cost of the purchase. What was unexpected, however, was that MEI Pharma's stock price almost doubled in the days before the announcement became public—despite there being no material updates filed with the Securities and Exchange Commission, no press releases, and barely any chatter on social media. MEI Pharma is not the only firm that has recently experienced an unusual pop in its stock right before announcing a crypto-buying strategy. Fortune discovered a similar pattern at other small public
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MEIP
News
- MEI Pharma, Inc. Rebrands as Lite Strategy, Inc., Adopts New NASDAQ Ticker ‘LITS’Business Wire
- MEI Pharma (NASDAQ:MEIP) was downgraded by analysts at <a style="font-weight:bold" href="https://www.wallstreetzen.com/newsletters/zen-ratings?ticker=MEIP&utm_campaign=getratings&utm_medium=online&utm_source=MarketBeat">Wall Street Zen</MarketBeat
MEIP
Sec Filings
- 9/10/25 - Form 3
- 9/10/25 - Form SCHEDULE
- 9/10/25 - Form 8-K
- MEIP's page on the SEC website