TechCreate shares surge 125.81% intraday amid parabolic rally with no material news disclosed, driven by heavy trading and short-covering.

TechCreate Group (TCGL) surged 125.81% intraday following a parabolic rally driven by speculative trading and short-covering pressures. The Singapore-based payment software company’s shares had already spiked 889% the previous day, prompting management to state it was unaware of any material nonpublic information. Despite no corporate disclosures, premarket trading saw over $280 million in volume, 24 times its 20-day average, with roughly 25% of the float sold short. The stock’s meteoric rise—turning it from a $150 million to $3 billion market cap in under 24 hours—sparked regulatory scrutiny, including a NYSE American inquiry. Traders attributed the momentum to retail-driven speculation and aggressive short-covering, as limited liquidity amplified price swings. The company’s repeated neutrality on the surge underscored the market’s focus on momentum rather than fundamentals.