Microcap Mania, a Governance Probe and Shifting Hedge‑Fund Flows Dominate a Volatile Market Ahead of the Long Weekend

A wave of extreme single‑session moves across microcaps—some surging 10x to 17,900% and others collapsing 90%+—was the headline story today, alongside a corporate‑governance probe into Prestige Consumer Healthcare (PBH) and hedge‑fund repositioning out of airlines into large tech. Markets head into Monday with volatility and event risk top of mind.