Any clue as to the big drop today?
Overseas sales were 10.7% of total sales revenue in 2009. Modest but not insignificant.http://www.faqs.org/sec-filings/100304/Wonder-Auto-Technology-Inc_10-K/ATPG was not a deep water driller but its shares dropped 50% when the Deepwater Horizon blew. I think the same analogy is being drawn here.
It is just collateral damage from the US-Chinese currency spat. It won't last long and I would recommend buying more if you have dry powder.Just read on SeekingAlpha that WATG just this afternoon announced that guidance has been raised for Q3 and the President and CEO has purchased $279,000 of stock. Great sign for the investor. Link:http://seekingalpha.com/article/227831-4-insiders-raising-guidance-and-buying-their-own-stock?source=hp_latest_articles
Currency spat? What's that has to do with WATG which is very little involved in export? or opening door for importers due to this spat? I would think the imagination a bit too far out.
I add 10000 shares more @8.45.