It is amazing how much the Chinese small cap space has been obliterated since early 2010. Most of the value plays that are frequently discussed on boards are down somewhere in the 50% range since their late 2009/2010 highs. Perhaps the fund managers think that the real estate situation is going to send China into a mild recession, or at least profoundly stifle growth and are taking all of their money off the table? Any way you cut it, it is very obvious that there is a lot of money moving out of this space right now, and CCME is clearly not immune to it.
The million dollar question is when it will come back into favor again?
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