Chinese Rally Cap Stocks Of The Day: KONG, CBAK
Shares in wireless service provider Kongzhong Corp (KONG) are up 25% today to $6,23. There was word last week that the company might get some addition payments from China Mobile (CHL). But, that is old news. Shares in China BAK…
Shares in wireless service provider Kongzhong Corp (KONG) are up 25% today to $6,23. There was word last week that the company might get some addition payments from China Mobile (CHL). But, that is old news.
Shares in China BAK Battery (CBAK) are up 20%. to $8.85. That was on top of a big run-up yesterday.
Granted, the Shanghai Composite is up 200% over the last year, but the movement in some of the individual stocks in unnerving. Shares in search engine company Baidu (BIDU) have gone up 80% in three months. No big news to drive the stock there either.
Too far. Too fast.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
