MEI Pharma, Inc. (MEIP) surged 32.37 percent to $5.95 in Friday's session, despite no new company-specific news. The sharp upward movement may be linked to speculative trading activity or short covering, given the high volatility in the stock.
MEIP opened at $8.95 and has traded between $5.22 and $9.00 so far, marking its highest level in the past year on the Nasdaq. The previous close was $4.50. Current volume has skyrocketed to 39.45 million shares, far exceeding its average of 30,100. The stock's 52-week range stands between $1.46 and $9.00.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.