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GRINM Cites No New Data to Justify 30% Stock Rally; Shares Jump 5%

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GRINM Semiconductor Materials (SHA:688432) warned investors that it experienced an abnormal stock price fluctuation in three consecutive trading days, but found no material information that could have caused the unusual movement, according to a Shanghai Stock Exchange Filing on Friday

The semiconductor company's closing price deviated by more than 30% across between July 7 and July 9.

The company conducted an internal verification and found no material or significant changes in its operations that could have triggered the abnormal stock movement.

The company's shares jumped 5% during the midday trade.

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