Volume spike: FZKA.F The9 Limited (XETRA) down 8.27% 20 Feb 2026: liquidity in focus

A sharp intraday volume surge pushed FZKA.F stock to €0.61 on XETRA on 20 Feb 2026, down -8.27% for the session. Volume reached 11,050 shares versus an average of 17, producing a relative volume of 650.00 and highlighting a liquidity-driven move. Traders should note the gap between the current price and the 50-day average of €7.20. We examine what the spike means for volatility, valuation, and short-term price targets for The9 Limited (FZKA.F) in Germany