The recent upsurge in RVNC volume -- particularly yesterday -- has probably been triggered by Brent Saunders formation of a SPAC. An IPO was publicly announced on Thursday. RVNC closely fits the profile of the type of target company described in the IPO materials that the SPAC will seek to acquire.
Note that although RVNC's trading volume soared yesterday, relatively large block trades in RVNC began appearing in mid-August. I have reproduced below a short description of the SPAC from Renaissance Capital, as well as a link to the IPO filing.
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