Shares in Infinio Group jumped as much as 50 percent to S$0.003 on the Singapore Exchange on Tuesday.
About 17 million shares changed hands compared to the average volume of 3 million.
The move comes a day after Infinio stock price doubled to 0.2 Singapore cent, with volume jumping about 10 times to 173.1 million.
The Catalist-listed company on Monday responded to a query from the Singapore Exchange regarding its unusual volume movements, saying that it has "continually been exploring various avenues for fund-raising from existing shareholders and third-parties".
Infinio, however, that no definitive agreement has been reached with any party and there is no certainty that any agreement will be reached.
Infinio Group is a focused on new media businesses. The Company, through its subsidiary, offers IPTV-based content and technology solutions for broadband service providers and enterprises.
Infinio Group has a market cap of S$5 million. The stock has gained 100 percent in an year.