This penny stock skyrockets 78 per cent in just one week and hits a new 52-week high!

Interestingly, the stock has hit four consecutive upper circuits.   

Of late, the domestic equity market is experiencing tremendous selling pressure and Friday was no different as the key benchmark indices witnessed a massive sell-off with Nifty and Sensex registering losses of over 1.5 per cent each.   

The negativity on D-Street can be attributed to the overnight precarious session, which was witnessed on Wall Street. The moves came as investors weighed updates from major companies as well as signs that economic growth might be slowing. All eyes of the market participants would be on Friday’s consumer price index reading for the month of May in the US. The market participants will take cues from this as this data would be crucial for the path of Fed policy and whether the central bank will keep raising rates aggressively or not!  

Amidst all the chaos, there is only one stock on the Indian bourses that is seen defying gravity as it moved sharply on Friday and got locked at its upper circuit limit of the day. A significant point to note here is that the stock has skyrocketed over 78 per cent in the last one week and interestingly, hit four consecutive upper circuits.   

The stock name is Tree House Education & Accessories Limited. The company is a self-operated pre-school chain engaged in providing pre-primary education along with education support services. The stock has recorded the highest weekly volume ever in the past six years. Volume for the week was registered in the excess of 43 lakh and saw a staggering twenty-fold jump when compared to its 50-week average volume.   

The stock, after witnessing a breakout of the neckline of double bottom early in the week, never looked back and instead, marked a fresh 52-week high!