I think a lot of it simply has to do with timing. CCME came to market via RTO and with very little publicity during the recession when institutions were more risk adverse and during a year when record Chinese fraud claims were painting the headlines. Couple that with a business model that Westerners are not familiar with because it hasn't been time tested in the US, and more time must be spent by institutions on DD. UTA is a travel service company. That is a model Western institutions are very familiar with.
Then you've got to factor in the persistently huge short interest, which inherently increases the volatility and risk, and institutions have to do even more vetting before they can take a stake.
As the company continues to make all the right moves for their shareholders and as they submit more audited reports, we are seeing more and more traction from institutions. Once there are enough on board for it to be clear to the others that this is a safe play, we will see a flood of new institutional money and we will never look back…except when we feel like being nostalgic and talk about the days when there were people that actually called CCME a fraud when it was trading at $17.
BTW...I suspect that institutions own close to 50% of the float by now.
