Crypto Treasuries Are Sparking Wild Rallies in Little-Known Stocks
Buying a boatload of crypto is turning out to be a great way for companies to juice their stock prices.
This week alone provides two pretty stunning examples of the trend. First, there was Eightco Holdings, a little-known company that saw its stock price explode on Monday after announcing that it would amass a trove of Worldcoin, the crypto issued by the eyeball-scanning Sam Altman venture. Shares rose as much as 5,600% before paring that to a more modest 3,000%.
Then on Tuesday, another relatively unknown company rocketed higher on a plan to buy crypto. Shares of Caliber Companies, an asset manager that says it largely focuses on commercial real estate, shot up as much as 2,132% to an intraday high of $48…
