A menswear retailer’s stock, KBS Fashion, is having a bitcoin–like moment–surging almost 400%


KBS Fashion Group Ltd., a tiny company that manufactures and sells casual menswear and is headquartered in China, on Wednesday saw its shares surging almost 400%. The reason for the rally couldn’t be determined, but KBS

KBSF, +402.76%

founded by Anna Polemis on Jan. 26, 2012, has gained a whopping 500% so far this week. In other words, its market value at the start of the week, at $4.1 million, has sextupled to about $24 million in most recent trade, according to FactSet data. KBS’s stock trades on the Nasdaq Inc.


Year to date, the retailer’s shares are only up about 180% , with KBS Fashion’s gyrations reminiscent of the volatility typically observed in assets like bitcoin

BTCUSD, +1.34%

which is up more than 600% so far in 2017. By comparison, the Dow Jones Industrial Average

DJIA, +0.01%

is up about 19%, the S&P 500 index

SPX, +0.12%

has gained about 16%, while the Nasdaq Composite Index

COMP, +0.32%

has returned about 26% thus far in 2017. To be fair, the five-year-old company once boasted a market cap of $252 million back in August 2014.