The Revasum Inc (ASX: RVS) share price was on fire today until giving back its gains and more.
At one stage, the semiconductor company's shares were up as much as 20% to a 52-week high of 87.5 cents. When the Revasum share price reached that level, it meant it had gained a remarkable 109% in the space of a week.
The company's shares ultimately ended the day almost 8% lower at 67 cents after it responded to an ASX Price and Volume Query.
What's happening with the Revasum share price?
Judging by the rollercoaster ride that the Revasum share price was on today, it appears as though investors were speculating on some big news being announced.
However, in response to its ASX Price and Volume Query, the company said it was not aware of any information that has not been announced to the market which could explain the recent trading in its shares.
Management suggested the gains may have been caused by recent media coverage featuring an interview with its new CEO, Rebecca Shooter-Dodd.
Other than that, there hasn't a major announcement out of the company in a month.
What was the last announcement?
That last market sensitive announcement was the release of an investor update in September.
That update provided investors with a breakdown on its performance in FY 2021 and its market opportunity.
In respect to the latter, management advised that the Silicon Carbide (SiC) market is growing rapidly and is expected to be worth US$2.56 billion by 2025. This compares to US$541 million in 2019 and is being driven largely by the electric vehicle industry.
Revasum designs and manufactures capital equipment for substrate conditioning and device manufacturing in the global semiconductor industry with a strategic focus on the SiC market. In light of this, investors appear to believe it is well-placed to benefit from this increasing demand.
Time will tell if that is the case.
