Dangerous Stock To Stay Away: Incannex Healthcare (IXHL)

  • IXHL’s sudden spike seems to be suspicious amid big whales’ speculations

  • Five days ago Incannex Healthcare announced significant clinical trials on one of its candidates

  • A potential loss could occur to those who already invested in the stock

Something very suspicious is happening in Nasdaq when shares of Incannex Healthcare (Nasdaq: IXHL) soar more than 241%. $22.90 stock is now trading at $78.10 amid no recent news. Someone is making buying the stock in bulks with intention of selling it before the market closes. Exchange regulators should put some limitations on whales who speculate in times of uncertainty.

The last news from IXHL appeared five days ago claiming the company has a cannabinoid combo that reduces the apnoea hypopnoea index of patients. Usually, success in clinical trials pushes the biotech or pharma stocks from 40% to 150%.

If you bought IXHL shares when the price was at $60 in premarket you may lose around 30% or 40% of your investment in hours as the blasting stocks normally make corrections by retreating 20% at least before the market closes.