Meme Stock Healthcare Triangle Surges to Top US Trade Volume

Healthcare Triangle, a lesser-known IT services provider, saw its stock price surge 115% on Thursday, becoming the most traded stock on US exchanges. Over 3 billion shares changed hands, accounting for 15% of the day's trading volume. The stock's market value increased to $150 million, nearly seven times the company's market capitalization. The sudden rally is part of the ongoing meme stock frenzy, which has also affected Kohl's, GoPro, and Krispy Kreme. The companies' ability to benefit from the price surge is uncertain, as the rally is often short-lived and unpredictable.

Healthcare Triangle Inc. (HCTI), a lesser-known IT services provider, experienced a significant surge in its stock price on Thursday, making it the most traded stock on US exchanges. The stock price more than doubled to just above five cents, with over 3 billion shares changing hands, representing approximately 15% of the total shares traded on US exchanges for the day [1]. This remarkable volume was equivalent to nearly seven times the company's market capitalization.

The company, based in Pleasanton, California, focuses on healthcare IT solutions, including cloud services, data science, and managed services for electronic health records and life sciences firms. Despite its niche market, Healthcare Triangle's stock saw a 138% increase at the open and closed up 115% by the end of the day, with no apparent news to explain the dramatic move [2]. The total value of shares traded for the day stood at approximately $150 million.

The sudden rally is part of the ongoing meme stock frenzy, which has also affected other companies such as Kohl's Corp., GoPro Inc., and Krispy Kreme Inc. Shares of Opendoor Technologies, which saw a significant price increase earlier in the week, were also notable for their high trading volumes [1].

While the number of stocks being drawn into the frenzy is growing, the rallies have been volatile and often short-lived, raising questions about whether the companies will be able to take advantage of their elevated share prices to raise fresh capital, similar to the original meme stock craze of 2021 [1].

Healthcare Triangle, incorporated in 2019, has struggled to maintain compliance with Nasdaq listing standards. Earlier this month, the Nasdaq Hearings Panel granted the company a reprieve, allowing it to stay listed on the Nasdaq Capital Market, provided it completes a reverse stock split by Aug. 8, 2025, and maintains a $1.00 closing bid for 20 consecutive trading days by Sept. 5 [2].

After Thursday's surge, Healthcare Triangle's stock fell over 9% in after-hours trading. Year-to-date, the stock is still down nearly 94%, indicating the volatile nature of the meme stock phenomenon [2].

References:

[1] https://www.bloomberg.com/news/articles/2025-07-24/this-five-cent-meme-stock-just-made-up-15-of-us-trading-volume

[2] https://stocktwits.com/news-articles/markets/equity/meme-stock-fever-hits-healthcare-triangle-stock/choGVbvR5vR