3 E Network Technology Group Ltd (MASK) is having quite a Monday morning. Shares jumped more than 32% despite no fresh news on the day itself, with trading volume exploding to 127 million shares by late morning. To put that in perspective, the stock typically trades around 4.9 million shares on an average day.

So what's going on? It looks like investors are finally catching up to some significant announcements from earlier this month. On Dec. 15, 3 E Network revealed a Master Services Agreement with Orka Technologies to develop a 26MW AI data center in Finland. That was a big deal for the company, marking its first move into the AI infrastructure space at a time when anything AI-related tends to catch attention.

Then on Dec. 19, the company closed a $2 million convertible promissory note offering to fund its growth plans. Sometimes these things take a while to percolate through the market, particularly with smaller stocks that don't get constant coverage.

The dramatic price swings make more sense when you look at the stock's structure. MASK has a tiny public float of only 9.1 million shares, with about 298,000 shares sold short (roughly 3.26% of the float). That kind of tight share structure can create outsized moves when buying pressure picks up.

During Monday's session, the stock traded between $0.2245 and $0.275, well above its previous close of $0.183. At 24 cents, shares remain close to the 52-week low of 17 cents, which currently serves as a key support level. If the momentum continues, traders will be watching the 30-cent mark as potential resistance.

One thing worth noting: market data shows MASK still registers negative price trends across short, medium, and long-term timeframes, suggesting this rally is fighting against the broader technical picture. Whether Monday's surge represents a genuine turnaround or just another spike in a volatile small-cap stock remains to be seen.