Market gone wild: Penny stocks are up nearly 80% on average in the last week

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Market gone wild: Penny stocks are up nearly 80% on average in the last week
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Stocks trading below $1 per share have an average gain of nearly 80% in the past week, according to Citadel Securities.

Stocks trading below $1 per share have an average gain of nearly 80% in the past week, according to a note from the Institutional Equity Derivatives team at Citadel Securities obtained by CNBC.

"This all amounts to what seems like a retail short-squeeze feeding frenzy that has reached blow-off top proportions," Citadel Securities said in the note. Stocks trading below $1 per share have an average gain of nearly 80% in the past week, according to a note from the Institutional Equity Derivatives team at Citadel Securities obtained by CNBC.

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