Just to show how absolutely demented our financialized economy has become, look at the stock of Tiziana Life Sciences this year, with stock symbol TLSA:
You think it's because the ticker is similar to TSLA? They are trying to develop treatments related to COVID-19, I bet that's the real reason it spiked this year. I don't know anything about the company, just took a minute to look at their website.
Several stocks have seen that kind of spike due to Covid, so it's quite plausible it was just Covid.
Sorrento (SRNE) went from $1.70 in March to $19 due to peddling Covid this and Covid that (currently at $7 with a $1.78 billion market cap).
Moderna (MRNA) went from $18 in February to $95 at the peak of Covid vaccine mania. At the top it had something like a $37 billion market cap, which is not much below Biogen's $44 billion market cap (Biogen has $14 billion in sales and $7 billion in operating income).
https://markets.businessinsider.com/stocks/tlsa-stock?utm_so...