Why Did Color Star Technology Co. Ltd. (ADD) Soar 40.65%?

On April 21, 2025, Color Star Technology Co., Ltd. Class A Ordinary Shares (ADD) surged by 40.65% in pre-market trading, marking a significant rise in its stock price.

Color Star Technology Co., Ltd. has seen a notable increase in short interest, with 152,100 shares shorted as of March 31st, up 47.7% from the previous month. This surge in short interest could indicate heightened market speculation and potential volatility in the stock's performance.

Millennium Management LLC recently acquired a new stake in Color Star Technology, purchasing 18,093 shares valued at approximately $43,000. This investment by a prominent hedge fund suggests growing institutional interest in the company, which could influence future stock movements.

Color Star Technology operates Color World, an online platform offering a diverse curriculum that includes music, sports, animation, painting, calligraphy, film and television, and life skills. The company's focus on entertainment and education services positions it uniquely in the market, potentially driving long-term growth and investor confidence.