iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,593 Blog Posts

Chinese Momentum Stocks Lift Off Again and Explode

No one else is covering this, so I might as well.

There is nothing moving faster than these micro cap Chinese stocks now. The reasons for the explosion is nondescript, seemingly out of nowhere, and without cause. If I was forced to guess, I’d say this is some sort of scheme chalked up in Beijing in an effort to inflate prices of beaten down ADRs.

Here are some Chinese lotto winners.

PLAG +275%
NCTY +150%
CBAK +26%
SGOC +23%
FTFT +19%
CNET +17%
TKAT +17%
CPHI +16%
ATV +14%
AMCN +14%

And about a dozen more up more than 5%.

If you’re playing these, remember these stocks are illiquid and likely scams. What you’re seeing now isn’t material, only fashionable.

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