It looks like EJ is financing the purchase of 37% of Century 21 China and 29% for the founders of Century 21 China, for a joint 57% controlling interest. Following a weak financial performance report for the third quarter, is this a classic muddy the waters move to cover the poor results both are looking at near term? Or, is this a brilliant step to another 1+1=3 merger strategy at the perfect moment? Interesting to see how the market reacts today.
Its what woke me up to the stock, I have trade XIN before and think the service industry for real estate could get better. Its a good bottom fishing play I would think. SURE, people use acquisitions to cover poor results but with this down market (NOBODY) expected good results. Buy the blood in the street. How about the money assets company NOAN. 100% institutionally owned and 30% short.... Some times the market just destroys stocks.
Oh yeah, I like IN a lot also, you might look at GFA in Brazil also, just sticking with ADRs. I'd say on a 3 year time horizon, these are all going to be a big bang up as they have been absolutely hammered.