And the best is this happens on volumes of strict multiples of 100 shares a trade. Hedge funds are are bouncing this around with virtually no interest from institutional investors. The only thing that can bring this one up is a takeover offer, and it ain't going to happen.
Yup. And to add to this one could have asked a monkey to pick stocks and done better than investing in XIN in the last 12 month. People of Ohio, keep traveling the love bus!
...well, look no further. It's happening here and now.
Google "Chinese Firm Gets Financing for Brooklyn Condo Without J.V. Partner". They took out another loan for the Brooklyn building and here again they did not release any news about it. They are possibly violating SEC disclosure regulations as this is a material change to their financial position.
I need Mr Spell-Check!
To add to my post above: if the company intends to expand they will need money. If they are planning to raise it via a secondary they need to bring the equity price up. But they are not doing anything in terms of PR to achieve that. So maybe the low share price is in their interest because it allows the CEO and chairman to take it private for less than book value.
I know, but just because they are foreign issuer doesn't mean they don't need to communicate such loans (or other changes in their financial position). There is always the risk that stock tanks due to external circumstances and in such situation law firms will swarm in to find fault at the company. In this case, what they are doing may be borderline, the questions always i these issues are big enough to materially affect the share price. In any case,their PR is very poor, XIN is essentially run like a privately held company and I anticipate that they will go private eventually.
So they took out another loan to finance the construction and again they did not disclose such material information to US investors in English?
To add to this: it's like Apple coming out with a new version of their phone and communicating it to Chinese investors but not to US investors in English. If the phone doesn't sell much and the stock crashes after the announcement of poor presales during the next conference call, what is the reaction of US shareholders? Class action lawsuit, because they potentially violated SEC regulations. This company with their non- existing information policy is a ticking time-bomb.
I am holding this already. And annoyed as #$%$ about this company not releasing material information to US shareholders. Not skipping any more gelato to buy this stock.