大幅暴涨是指证券市场的价格指数或期货市场的合约价格在较短的时间内出现超常急速上涨的一种状况。相反，暴跌会引起股灾，而股灾是指股市中大部份股票价格无预兆的大幅下跌。
A sharp rise refers to a situation in which the price index of the securities market or the contract price of the futures market rises extremely rapidly in a short period of time. On the contrary, a sharp drop will cause a stock market crash, which refers to a sharp drop in the prices of most stocks in the stock market without warning.
大幅暴涨会造成两种相反的后果，即一方面会使市场中的空头产生巨大的亏损，另一方面则会使市场中的多头获得大量的盈利。
大幅暴涨往往是在市场中多空双方力量对比出现了明显的转化时产生的。而多空双方力量的对比主要取决于多空双方的资金实力和市场中基本面与技术面的利多与利空。因此，产生大幅暴涨一般是因多方资金实力远远大于空方，或者是因为基本面与技术面出现了明显的利多情况。
大幅暴涨在市场走势中经常表现为较大的反弹或反转行情。市场有可能从熊市转为牛市，但是，也有许多大幅暴涨的行情是因机构大户操纵市场的行为所致，其目的是为了拉高价位出货而获取暴利。这种行为具有很大的风险，暴涨之后必有暴跌，不利于市场的稳定与发展。市场管理者对这种过度投机和违法操纵市场的行为，必须严加制止。
股灾通常是投机造成经济泡沫之后果，很多时候与实体经济无关，而是由羊群心理造成的社会现象；由于市盈率高于合理水平，少数人的卖出行为或负面消息造成其他投资者恐慌性抛售。一般来说股灾并无严格的定义，通常是指一天或数天内有双位数百分比的跌幅。
A sharp rise will cause two opposite consequences, namely, on the one hand, it will cause huge losses to the shorts in the market, and on the other hand, it will make a lot of profits for the longs in the market.
A sharp rise often occurs when there is a significant change in the power comparison between the long and short sides in the market. The power comparison between the long and short sides mainly depends on the financial strength of the long and short sides and the positive and negative fundamentals and technical aspects of the market. Therefore, a sharp rise is generally caused by the fact that the financial strength of the long side is far greater than that of the short side, or because there is a significant positive situation in the fundamentals and technical aspects.
A sharp rise is often manifested as a large rebound or reversal in the market trend. The market may turn from a bear market to a bull market, but there are also many sharp rises caused by the behavior of institutional big players manipulating the market, with the purpose of raising the price to ship and obtain huge profits. This behavior is very risky. After a surge, there will be a plunge, which is not conducive to the stability and development of the market. Market managers must strictly stop such excessive speculation and illegal market manipulation.
Stock market crashes are usually the result of economic bubbles caused by speculation. In many cases, they have nothing to do with the real economy, but are social phenomena caused by herd mentality; because the price-earnings ratio is higher than the reasonable level, the selling behavior of a few people or negative news causes other investors to panic sell. Generally speaking, there is no strict definition of a stock market crash, which usually refers to a double-digit percentage drop in one or several days.