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Wednesday, September 14, 2016 9:02:42 AM
EONTEC struggling to stay above $13 on relatively light volume. It would make me feel better if the Chinese see the potential and acknowledge the news that is at hand any day now.
Chinese markets are greatly overvalued. 80MM in revenues and a market cap of 2 BILL is insane but the Chinese middle class is buying up stocks for dividends. Eon stock performance isn't going to do anything for LQMT potential. China's government isn't going to allow Eon to pass Foxconn. Any valuation would be in LQMT and the middle class Chinese are seriously prohibited from investing in any US company and they certainly won't be investing in a company that doesn't pay dividends. The only other way investment comes into LQMT is by a guy like Lugee, of course.
Scroll down to the bottom of that page you posted. They've been mostly getting hammered. Hebei was a high-flyer and ran to about $120, as I recall. In fact, Eon has been more maintaining its value than the others - if you look at it daily, which I check every couple of days or so but a day or so sample size is not representative:
Related companies
Show: Add or remove columns
Valuation
Company name
Price Change Chg % d | m | y Mkt Cap
300328 Dongguan Eontec C... 13.39 +0.06 0.45% 5.40B
300428 Hebei Sitong New ... 89.95 -0.61 -0.67% 7.27B
002328 Shanghai Xinpeng ... 10.68 -0.05 -0.47% 4.79B
002578 Fujian Minfa Alum... 11.10 +0.10 0.91% 4.77B
601388 Ye Chiu Metal Rec... 3.96 +0.02 0.51% 8.02B
300337 Yinbang Clad Mate... 9.92 +0.02 0.20% 8.15B
002333 Suzhou Lopsking A... 13.00 +0.04 0.31% 6.53B
002716 Chenzhou Jingui S... 24.84 +0.36 1.47% 12.50B
600331 Sichuan Hongda Co... 5.89 -0.04 -0.67% 11.97B
600961 Zhuzhou Smelter G... 10.09 -0.35 -3.35% 5.32B
002340 GEM Co Ltd 7.18 -0.09 -1.24% 20.90B
The below was pretty interesting, though, as it relates to Lugee's investment as essentially a private investor (through his HK company). It lays out that all these other investments were for BILLIONS and were all made by Chinese institutions (not a one-man show investing through a company he formed) with significant ties to the Chinese government.
http://www.usatoday.com/story/money/markets/2016/03/18/11-top-us-companies-targeted-china/81970226/
In other words, what Lugee is alleging to do by his investment in LQMT has never happened before.
I'm up 61% at the close!!!
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