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STX surges to $0.32 intraday on 11.5x volume following founder announcement, closes 25% below peak
- STX printed an intraday high of $0.340 on May 5 — a level not seen in the 90-day window — but closed at $0.254, leaving a 34% upper wick.
- Volume was 11.5x the 30-day daily average at 289.7M units, the largest volume ratio in the entire dataset on May 5.
- The move coincided with a founder announcement on May 5 teasing institutional features; the subsequent pullback left the close still +12.7% above the day's open.
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Conclusion
May 5 open: $0.2241, intraday high: $0.3401, close: $0.2537. Wick above close: 34.1%. Volume: 289.7M vs 30-day avg of 25.1M = 11.53x ratio. 90-day prior max close was $0.2799 (Feb 6). On May 5, Stacks founder Muneeb announced upcoming institutional-grade features, directly sparking market interest. The intraday spike exceeded the 90-day high, but the close did not.