X-Fab Stock Surges Over 70% on Wednesday After Popular X Account Serenity Recommends Position

According to Jin10, European chipmaker X-Fab Silicon Foundries SE stock soared over 70% on Wednesday (May 27) after a popular X account named Serenity with over 400,000 followers posted a recommendation. The post, which garnered more than 500,000 views, triggered a retail trading frenzy. The Paris-listed company, which operates six semiconductor manufacturing facilities globally, saw its shares rise as high as 77%, with trading volume reaching 17 times its three-month average.

Current stock price stands at approximately 12 euros, more than double analysts' average target price of 5.5 euros. CEO Damian Mark stated, "We have noted recent increases in our share price and trading volume. The company is not aware of any material developments that should be disclosed and are not yet public."