A single Indian stock soared 55,000%.

In the Indian market, a stock has recently attracted widespread attention. This company is called RRP Semiconductor, and its stock price has skyrocketed by over 55,000% in the 20 months leading up to December 17th, making it a "miracle stock" on social media and the top gainer globally. The stock's meteoric rise is almost unrelated to its fundamentals: RRP Semiconductor reported negative revenue in its latest financial report, the latest annual report shows only two full-time employees, and its transition from real estate business to semiconductor investment at the beginning of 2024 is also tenuous. Online hype, a minuscule free float, and the growing retail investor base in India have all contributed to the stock hitting the trading limit for 149 consecutive days. Some analysts point out that in India, due to the lack of domestic publicly traded chip companies, retail investors are willing to chase any stock that appears to be a "substitute target" in order to ride the global semiconductor wave. "Semiconductors are really hot, and there are few related stocks available for investors in India, so everyone is willing to buy any related names."