Shares of Siebert Financial Corp. SIEVE,
shot up 373% to a more than two-year high on Friday with heavy volumes, enough to beat all premarket winers. Trading volume grew to 6.7 million shares, compared to the 30-day daily average of approximately 24,500 shares. The company, which conducts its retail brokerage business through its Muriel Siebert & Co. subsidiary. Inc., has confirmed that it has not released any news on Friday. The last press release was on November 16, when Siebert said it had hired Anthony Palmeri from JP Morgan Chase & Co.’s JPM,
and Jerry Losurdo of TD Prime Services to lead the securities financing group. The stock was on track to open at the highest price seen during regular session hours since September 2018. The stock, which has a short-term interest rate of 3.7% of the IPO according to the latest data, has seen the last 3 months to Thursday fell 1.1%. and is down 51.1% in the last 12 months, while the S&P 500 SPX,
is up 14.4% in the past three months and up 15.7% in the past year.