Prestige Wealth (PWM) stock has gone parabolic but faces risks

Prestige Wealth (NASDAQ: PWM) stock price jumped sharply on Wednesday as it went through a strong short squeeze. It jumped by more than 43% in the regular session and over 24% in the extended hours. This surge brought the company's market cap to over $15 million. I wrote about Prestige Wealth in July 2023 as its stock was surging. At the time, I compared the company with other Chinese companies like AMTD Idea and Top Financial, which had become beloved among day traders. I recommended that investors should ...