Investing
4 Speculative Chinese Stocks That Tanked Far Worse Than Shanghai Did Monday
Published:
Last Updated:
Monday’s global equity market trading day was nothing short of having a sudden irritable bowel syndrome attack. That was true for the United States and Europe, and for emerging markets, but Shanghai’s SSE composite took it the worst on Monday with a drop of 8.5% to 3,209. The fallout was also atrocious in almost anything tied to China — whether they were tied to Shanghai, Hong Kong, or elsewhere.
24/7 Wall St. tracked four ADSs from China that trade in the U.S. that saw their shares close down 20% or more on the day. To put this in perspective on top of an 8.5% drop in Shanghai, the 20% drop was against drops of 4.6% in Japan’s Nikkei 225, a drop of 5.2% in Hong Kong’s Hang Seng, a drop of 4.5% in the UK’s FTSE, a drop of 4.7% in Germany’s DAX and 3.6% in the Dow Jones Industrial Average.
500.com Ltd. (NYSE: WBAI) provides online sports lottery services in China. Its ADSs fell 26%, or $4.74, down to $13.49 on 3.07 million shares. It has a 52-week range $7.31 to $37.50 and average volume of 1.44 million shares. The stock still has a market cap of $475 million.
China Finance Online Co. Ltd. (NASDAQ: JRJC) sells online financial services via trading and information services in China, which means it is at ground zero of any meltdown in China’s financial markets. It closed down 23.5%, or $0.91, at $2.96 on over 594,000 shares. China Finance has a 52-week range of $2.96 to $11.48. Its market cap is only $65 million.
Sky-Mobi Ltd. (NASDAQ: MOBI), which operates a mobile application platform embedded on mobile phones in China, fell 22%, or $0.75, to $2.66. This $74 million company now has a 52-week range of $2.21 to $10.56. The company had earnings on Monday morning, showing that revenue was RMB164.1 million ($26.5 million) in the second quarter versus RMB170.2 million in the same period last year.
Synutra International Inc. (NASDAQ: SYUT) which produces and distributes dairy based nutritional products under the Shengyuan and Synutra brands in China, fell by 18.9%, or $1.05, to $4.50 on only 224,000 shares. This has a 52-week range of $4.27 to $8.15 and now has a $258 million market cap. This stock was just at $6.50 early last week after posting income of $7.6 million.
ALSO READ: Where Will Warren Buffett Put Money as Markets Collapse?
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.