Hi SR
As i've said before, since JADA went into "E" delinquency status re: the 10-K, the stock is in limbo. Value investors look at the fundamentals and have been buying at these levels. Weak hands afraid of JADA's not filing by deadline on May 17 are getting nervous, some shorts are probably hoping it will go to pinksheets, and the buyers have likely bought as much as they want for the time being.
Also, in case you didn't notice, we've had a SEVERE SELLOFF in the U.S.-listed China stock space, and the Shanghai Composite Index has also been sold off hard recently, including a 4.1% drop last night....
So i see this as normal drifting around behavior.... Actually, i'm surprised JADA has held up this well given the carnage that has hit elsewhere in the China growth stock space-- i mean, LTUS in the mid 0.90s?? CNAM down into the upper $4s? CCME back below $12? XIN in the lower $3s?? CKGT back to low $2s? YONG to sub-$7? SKBI well below $9?? Etc., etc.
These are grossly oversold conditions.... Such stocks all have extraordinarily low trailing and forward P/Es and PEGs.
As is being discussed on the main CGS board, these and other stocks may have further to fall as the "correction" over fear of European sovereign debt, higher energy prices from the oil spill, and China tightening take a further toll.
Good news is that we'll likely have GOOD NEWS from many of our China companies, including JADA, within 5 - 10 days.....
--Timothy
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