Think the SA article might have helped fuel this today? They rarely have effect and this one lacks all semblence of indepth due diligence but nonetheless the simple facts stated are true enough. http://seekingalpha.com/article/938561-small-cap-chinese-companies-fight-off-american-distrust?source=yahoo
I am actually strongly considering getting back in this one but going to wait a bit and watch the technical action first - Could be a short-lived pop as we have all seen plenty enough with US listed Chinese stocks.
Going back private is a concern with legit beaten up big board stocks that have the unique mispriveldge of being Chinese if actually legit, but with the continued divis and purchase of NYC assets it doesnt have the about to pull a go private move feeling... Why would they initiate steps to solidify legitimacy in the markets eyes if that was the case? They'd prefer to keep the pps low to force hand shareholders to accept a lowball offer compared to BV.
I sold my posiition in May at 3.26, not getting the feeling that it was ready to hold up and it didnt. But now Im wondering if the time is ripe to up a position again despite my overall philosophy of not chasing. Personally I dont think I will have to chase todays close as it will likely settle some over the week as the volume was 3x normal on not much of a catalyst. Its on the close radar screen in the ST to see what is next from here, I could be completely off.
Long term Im not seeing much to dislike fundamentally, and never have. Wheres the skeleton? Please show me one if they have one lurking in the closet. Just waiting for degrees of trust to establish themselves regarding US listed China legit big boards instead of spitting in the wind again. In retrospect following the MS nod on YONG for example was not then, and perhaps now not a bad idea either. Everyone is so spooked, and rightly so, in the US listed China space but the strongest ones are bound to appreciate first and strongest IMO, once the market believes the legitimacy of the company and that they have zero intention of going back private. Then serious corrections could be in store with sustained volume of half todays.