SAND is up 7%, with a market cap of 170 million and just 1.8 million in trading volume. That level of turnover would usually be considered quiet, but today it’s enough to put it near the top of the gainers list.
It’s been years since the metaverse hype peaked, and this name has spent most of that time languishing near the bottom of the rankings. Today’s rally looks more like nobody is selling than buyers piling in. When the order book is thin, a few trades can push the price up—and push it back down again within minutes.
It’s been years since the metaverse hype peaked, and this name has spent most of that time languishing near the bottom of the rankings. Today’s rally looks more like nobody is selling than buyers piling in. When the order book is thin, a few trades can push the price up—and push it back down again within minutes.