PP, I've watched its move for the past couple days but didn't trade it, now I'm staying away from big board stocks, a 180 degree shift for me for the past month, lol.
Besides the portal businesses, I remember the real trigger caused NTES, SINA, SOHU moved from pennies to dollars was mainly because of SMS (short message service). SMS was 0 in China 4 years ago, then people started to exchange SMS over the cellphones, instead of voice chats. Chinese people are very addicted to the text messaging over the phone. SMS became a sector of advertising. These paid SMS became so crazy, the SMS providers like NTES, SOHU, and SINA to provide the service and send advertising SMS generated millions of dolloars. Notice CHINA was not in that part of the run because CHINA is operated in HongKong and was not in SMS business. Then the tight regulations came one year ago from the government, no more porn stuff allowed on SMS, every Internet shops became the SMS providers, tight competition. NTES/SOHU/SINA generated less and less revenue from the sector, these stocks started to fall.
Since then NTES started to shift their revenue stream from SMS to online gaming. It turned out online gaming became their most important revenue, so it keeps the stock price float despite the declines in SMS revenue.
I'll take a close look at IIJI and see what's its niche. If they have little debt like these Chinese three, then it should have more room to run. I played this stock before.
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