I think JH hinted at this in a conference call last year. Lots of coverage of this story in Chinese media.
ZA bought a startup that combines multi-level marketing with sales on social networking apps and intend to bring that company to US stock market. Should have a press release coming.
If all stocks traded at their actual value all of the time, there would be no sense in investing in them. The key to making big gains is doing your research and finding stocks trading below value before anyone else does.
Why was it trading below $1? I don't know, because a bunch of people shorted it when it wasn't on anyones radar? because China's economy was looking weak last year? you tell me. I'll answer your question with another question, why was it trading about $7 10 months ago?
Why did Netflix drop from $450 to $330 only to then climb up to $575 all within 3 months?
Not everything always has to make sense, but one thing is for sure, when a company has money, manipulation will do what it does, but eventually they come back to where they are supposed to be,
Sentiment: Strong Buy
Not sure how they got listed? How about 200,000,000 in free cash which currently accounts for $29 per share after the R/S. The fact that it is trading in the $3 range . Mind boggling, even for a Chinese stock.
Nyse was ready to delist this, now they have a second chance.
Stock value has to be over 99¢ for NYSE listing.
Not sure how this stock got listed with the NYSE big board, granted its an ASD, but still to garnered the big board is kin of far reaching providing so many other company's cannot edven be listed on the nasdaq "big" board. Nasdaq have three boards and some are equivalent to pink sheet trading.
Preparing the company for a reverse split is a necessary measure they must adopt for safety reasons but implementing it is a different question and they may delay it or not implement at all as has been the case with some of the other companies I have traded. That depends on the earnings and the companies future prospects. In my view, if the company is facing good future prospects and the price goes over $1.00 rendering a reverse split unnecessary, it may still be a wise move.