Why did this penny stock skyrocket 1,500% in a day

When most major equities recorded notable losses, the share price of biotech company Bright Minds Biosciences (NASDAQ: DRUG) experienced a meteoric rise, with minimal fundamental factors supporting this momentum. At the end of the October 15 trading session, DRUG, which has mainly traded as a penny stock, was valued at $38, reflecting a rise of 1,445% for the day. On the weekly chart, the stock surged by a staggering 3,950%, with the market capitalization rising from just $4 million to almost $172 million. ...