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The tiny Chinese tea seller whose shares trade more than Tesla’s

Retail investors drive ‘penny stock’ boom but are being hurt by fundraisings that flood market with shares
So-called ‘penny stocks’ made up nearly 20% of US market volumes in December and were still at 14% in January

Bit Brother, a Chinese tea retailer that has branched out into cryptocurrency mining, is an unlikely candidate to top the trading leader boards in the vast US stock market.

But for the past two months an average of 572mn shares in the lossmaking firm, whose market value is less than $2mn, have changed hands each day. That is more than any of the biggest names in corporate America including Tesla, the $565bn behemoth whose stock is often frenetically traded.

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