GSI Technology Inc. shares surged by 11.05% on Thursday, positioning the memory specialist to extend its winning streak to four days – the longest streak since July 13, 2023, as per Dow Jones Market Data.
Strong Volume and Performance
The stock saw a significant rise on volume, with 3.12 million shares traded compared to the 65-day average of 321,780 shares.
Remarkable Growth
GSI Technology’s stock (GSIT) has soared by over 66% in the last four consecutive days, marking its best performance over a four-day period since the days ending May 17, 2023, with a substantial increase of 165.85%.
No Specific News Impact
Despite the absence of any apparent news, the stock is trading at $4.02, indicating a potential highest close since August 3, 2023, when it closed at $4.22.
Market Capitalization and Comparison
With a market capitalization of $91.57 million, GSI Technology is relatively small in comparison, especially when viewed alongside meme-stock favorites like AMC Entertainment Holdings Inc. and GameStop Corp.
Strong Growth Trajectory
GSI Technology shares have witnessed a significant rise of 46.6% in the last three months, surpassing the S&P 500’s gain of 11.6%.
