This has to be the bottom
For this stock to go up? Earnings don't seem to work. They won't do dividends, nor buybacks. I'm tempted to sell my stake every day, but I'm convinced that the moment I sell, this will double, so I don't sell.
I expect one or two days of profit taking from short term traders. Then I'm buying more. One interesting thought about sunup. Clearly, there was lots of leaking insider information leading to lots of buying days before the announcement. It's the wild wild west when it comes toChinese equities. It's something to consider in the future next time we see an unexpected sunup.
MY supplies the know how. China Nuclear supplies the money and other resources. They have unlimited resources:
China National Nuclear Corporation (CNNC) is the large state-owned enterprise under the direct management of the central government. Historically, CNNC successfully developed the atomic bomb, hydrogen bomb and nuclear submarines and built the fist nuclear plant in the main land of China. CNNC is the main body of the national nuclear technology industry, the core of the national strategic nuclear deterrence and the main force of the national nuclear power development and nuclear power construction, and shoulders the duel historical responsibilities for building of national defense force, increasing the value of state assets and developing the society.
CNNC is mainly engaged in scientific research and development, design and construction, production and operation in various fields such as nuclear military industry, nuclear power, nuclear electricity generation, nuclear fuels and nuclear technology application, as well as international economic cooperation and import and export businesses. China National Nuclear Corporation has over 100 secondary member units across over 20 provinces, autonomous regions and municipalities with 100,000 employees.
This strong move up of the past week has taken place while the markets are tanking all over the world. Something is going on on a fundamental level. Maybe a big contract from the Chinese government?
Something is going on but I can't find any news. This move up started on June 6 and it seems to be picking up steam. Not that many shorts so I don't think it's short covering.
Short covering was minimal. There are still over one million shares short, so we could have a run on any bit of good news, like a deal with the new wire.
Fun to watch the end of the trading day. I also think the shorts are about to throw in the towel on this one.
I suspect we are undervalued.