It keeps falling back. A lot of people yesterday who got in on that 1.34 Dip the day before were dumping all yesterday evening at around the 2.50 ..
IT was going on all evening.. Buying was going on 10- 20 shares bidding up and people were dumping...
The volume was great , but it wasnz't all up .. A lot of selling.. People trying to get some of their money back I guess ..
This thing went from 50.00 to 1.34 in a few weeks time and more and more bad news or inaccurate news coming in daily. No real financials.
I did read a report yesterday in the SHANGHAI press that they estimate the company value to be around 350 million now and around 4000 retail locations
Other reports I read stated that a lot of those are "street vendor" type operations not actual brick and mortar stores.
Another reports stated there was a lot of "interest" from two major companies coming for LK.. Maybe trying a stratetic buy out or buying up massive holdings ..Both are the restaurant - retail industries which could be a good thing for THEM and a bad thing for actual Lk owners / and could go either way for investors..
For now you're going to see a lot of dip and run , pump and dump buying and selling until something substantial comes out to validate what this company is really all about. If / how they're going to come out financially ..
The Chinese and stock exchange regulators are all over them and are going to STAY on them after this fiasco making it hard to operate.. There's no real reliable information..
Right now, it's a gamble. It really could go either way but I don't see this as a "long term" opportunity until or IF , they actually do get some new ownership / new blood in there to make sure things stay up and above board.
Frankly for me personally, As of right now I wouldn't buy up massive holdings with long term intentions and I won't until after we see and hear something postitive and concrete from the investigators and what's happening with these investment companies..
Are they intent on buying out or in and taking control? What is their intent afterwards? Keeping it alive? Revamping the realestate? Who knows.. There's a lot of if's. and unknowns. I say play it while you can. If you lost get some of your money back if you can while they're pumping theshit out of it..lol
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