MY... China announces a substantial increase in renewable energy consumption.
"During Premier Li Keqiang's visit to Paris, which will hold the UN Climate Summit, he announced that China aims to increase its renewable energy consumption to approximately 20% of the country's total energy consumption by 2020. Premier Li Keqiang also stated that the country will strive to meet its environmental goals before its previously set 2030 date."
MY...NO doubt the Chinese stock market decline is affecting MY along w/ other ADRs... "Chinese American depositary receipts tumbled 5.1 percent as of 12:42 p.m. in New York, extending their slump to 18 percent from this year’s high." http://finance.yahoo.com/news/china-slump-spreads-alibaba-sinks-144339569.html
Can't believe MY is in the $2.20's again.!!.!. This is where I started. But, that's the market!!! Anyway, the share price has closed at or above $2 for the past 18 months now and although I already have a decent position, I am thinking about adding more. Just waiting to see if and where the bottom is, but it's hard to pinpoint. (I thought adding in the $2.80's was smart??) Also, I had a limit order in today @ $2.15 but it didn't fill. With a market cap of approx $355M (inc recent acquisition), Ming Yang could be a buy of a lifetime down here, but you never know. Time will tell. Heck, the shares issued for part of the acquisition were @ $3.49...$1.20 IN THE HOLE (based on today's close @ $2.29). BTW, CEO holds 51.7M shares of MY, 33.5% of the company, so he's got a lot at stake.
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