Jordan Karl has become the brightest star in the financial world. Undoubtedly, he is the only person in 2025 who has outperformed AI titans like NVIDIA's Jensen Huang, Tesla's Elon Musk, and Meta's Mark Zuckerberg in terms of stock gains. A native Indian, Karl's publicly listed company RRP has surged nearly 74,000% in just 20 months. In early April 2024, RRP's stock price was around 15 rupees (approximately 1 RMB per share). Today, it trades at 11,094 rupees (about 870 RMB per share). RRP's meteoric rise stems solely from its status as India's only semiconductor-themed stock.
Karl is likely the only CEO globally to witness his company hitting 149 consecutive daily trading limits. Alarmed by RRP's frenzy, India's Securities and Exchange Board (SEBI) intervened, restricting trading to just one session per week. Yet, neither wealthy investors nor retail traders heeded the warning—they eagerly await RRP's weekly trading window, viewing it as their sole ticket to ride the AI wave in India's semiconductor-starved market.
SEBI's attempts to cool investor enthusiasm have failed. The situation borders on surreal. RRP was originally a real estate brokerage before Karl took over, boldly announcing a pivot to semiconductor manufacturing. Karl, previously involved in niche thermal imaging systems, owns a semiconductor assembly and testing firm with a name strikingly similar to RRP. His grand promotional event featuring Indian politicians and celebrity athletes further fueled the hype.
A master of publicity, Karl signed a 4.4-billion-rupee deal with an institution after acquiring RRP in 2024, loudly proclaiming his semiconductor ambitions. With Prime Minister Modi pushing for domestic semiconductor development and no other AI-themed stocks available, retail investors flocked to RRP. However, Karl’s private firm shares no operational or ownership ties with RRP—only a name resemblance.
After a year under Karl’s leadership, RRP reported a net loss of 68.2 million rupees in Q3 2025. Why? A contract signed in late 2024 was canceled, forcing the return of prepayments. The company, borrowing even to pay two full-time employees, posted a 71.5-million-rupee deficit. SEBI soon realized RRP was a shell company draped in semiconductor buzz—no revenue, no manufacturing, just Karl’s flashy "Semiconductor Night" gala as its sole "progress."
SEBI grew anxious. Despite RRP’s semiconductor claims, no investments or government applications materialized. Worse, Karl and his associates hold 98% of shares, leaving only 2% in circulation—making it easy for retail buyers to trigger daily limit-ups. Rumors of athlete shareholders, export contracts for integrated chips, and industry awards were all debunked.
Indian retail investors remain狂热, undeterred by regulators. Since November, SEBI has capped RRP’s weekly trading to one day with a 2% limit. Karl, however, remains jubilant. His 74,000% gain leaves NVIDIA’s Huang, Tesla’s Musk, and Meta’s Zuckerberg in the dust.
With investors ignoring warnings, SEBI launched a probe into potential market manipulation behind RRP’s trades. Analysts are baffled—Karl’s genius lies in selling semiconductor dreams in an AI-deprived market. For India’s散户, buying RRP seemed the only choice. Facing this global meme stock phenomenon, as the saying goes: "Performing acrobatics in bed—now that’s skill."
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