Zhongchao Stock Surges 200% After Hours: Here's Why

Zhongchao Inc. (NASDAQ: ZCMD ) shares are trending on Friday. Shares of the Shanghai-based internet technology platform serving cancer and other major-disease patients surged 209.91% to $3.44 in after-hours trading on Thursday, reversing a 0.89% regular session decline. Share Consolidation Remains in Focus Volume for the session rose to 23.99 million shares, compared with an average daily volume of 1.58 million shares, indicating significantly elevated trading activity. Zhongchao completed a 1-for-3 share consolidation effective on Monday. According to the company’s announcement last week, the move was approved by shareholders and the board on Jun. 18 and aimed to help Zhongchao maintain its Nasdaq Capital Market listing. Trading Metrics, Technical Analysis Zhongchao has a market capitalization of $1.28 million. The Relative Strength Index (RSI) of ZCMD stands at 15.01. The stoc...