Waste management stock soars 1,500% in one week

Shares of smallcap Avalon Holdings surged as much as 200 per cent after a new holder disclosed a massive stake. The news has brought the stock’s five-day rally to more than 1,500 per cent when accounting for Monday’s premarket peak.

A filing on Friday showed that MintBroker International took a new 1.92 million share stake in the Warren, Ohiobased waste management company. This equates to about 60 per cent of Avalon’s outstanding shares and makes MintBroker the top holder by a long shot. Nathan Michaud, founder of InvestorsUnderground.com, called Avalon the “most talked about stock this weekend” in a tweet on Sunday.

Avalon provides waste management services to industrial, commercial, municipal and government customers in the US Northeast and Midwest. It also owns the Avalon Golf and Country Club in Warren.