Why Orphazyme Stock Skyrocketed 24.6% Today
Shares of Orphazyme (NASDAQ: ORPH) skyrocketed 24.6% as of the market close on Wednesday after rising as much as 56.6% earlier in the day. The big gain came after the drugmaker announced that Goldman Sachs (NYSE: GS) temporarily increased its stake to 5.58% on Jun. 16, 2021, but then reduced its position to less than 5% the following day.
What does the "major shareholder announcement" made by Orphazyme today mean for investors? Pretty much nothing.
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Source Fool.com
