Stock Alert: Siebert Financial More Than Triples

(RTTNews) - Shares of Siebert Financial Corp. (SIEB) skyrocketed 235% on heavy volume on Friday morning despite no stock-related news from the company.

SIEB is currently trading at $12.50, up $8.79 or 236.93%, on the Nasdaq. Trading volume was 10 million shares, which is far above the average volume of 26 thousand shares.

Siebert Financial, through its subsidiaries, engages in the retail discount brokerage and investment advisory businesses.

The company's last released a press statement on November 16, when Siebert announced it hired Anthony Palmeri from J.P. Morgan Chase & Co.'s and Jerry Losurdo from TD Prime Services to lead its securities finance group.