Bluesky Digital's stock price has risen 1,767% in the past month, perhaps because investors confuse it with the social platform Bluesky

Toronto blockchain company Bluesky Digital's stock price has risen 1,767% in the past month, possibly because investors mistake it for the social media platform Bluesky. Since Trump's election on November 5, Bluesky Digital's stock price has risen from $0.06 to $0.56, an increase of about 833%. The rise in stock prices came as the number of users of the platform surged. A portfolio manager said the company's stock price increase "may be due to name confusion with the social media platform Bluesky." At the urging of Canadian regulators, Bluesky Digital clarified in a filing that these moves were not related to corporate actions and "management is not aware of any significant changes in the company's operations that would lead to the recent increase in market activity." (DL News)