A Hong Kong-based traditional medicine company with no revenue, no regulatory approvals, and just 12 employees is now worth more than Kraft Heinz.
Regencell Bioscience, listed on Nasdaq, has surged over 60,000% this year, briefly hitting a market cap of $39 billion, all without launching a single commercial product.
The deets: Regencell develops liquid formulations based on Traditional Chinese Medicine (TCM) for conditions like ADHD and autism. But nothing’s FDA-approved, and the company has reported $10.4 million in losses over the past two years.
What triggered the madness? A 38-for-1 stock split in early June sent shares flying. Add to that a tight float (only 6% of shares publicly traded), a founder holding 86% ownership, and Reddit-fueled hype, and you’ve got a classic meme stock.
Big picture: the global alt-health market is booming, India’s Ayurveda market alone could 4x by 2033, but Regencell is a reminder that valuation and reality often live on different planets. The stock dropped 18% intraday on Wednesday, but it’s still up nearly 49,000% year-to-date