Impact BioMedical shares rose due to unexplained market activity.

Investing.com — Impact BioMedical Inc. (NYSE American: IBO) shares skyrocketed in the last trading session, doubling in value with a remarkable increase of over 150%. This significant movement has prompted the company to address unusual market activity.

Impact BioMedical stated that it is not aware of any undisclosed major business developments that could explain the sharp rise in its stock price. The shares, which closed at $2.08 in the previous session, surged to $6.17 today, and were last seen trading at $5.21, reflecting a 150% increase. The company, known for exploring and developing innovative health solutions, has not released new information justifying such a market response. As investors speculate on the reasons behind the surge, it highlights the often-volatile nature of the biotechnology sector, where stock movements can occur independently of company announcements or performance changes.