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February 3, 2011
Edited: February 3, 2011
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I wrote few blogs on dangerof Chinese companies trading as publically traded companies in Great USA only.
The big question in my mind is why these companies do not trade in their own home land. Do they have too much dirty laundary to hide in their own back yard or getting thrashed by their own system.
Or is it easy to take folks here with hype and greed. And all the agenciies or powers to be just look at the glossy paper and rubber stamp the stock to trade in USA. Who says doulble fast talking does not work?
Example CCME blew up today - it could be mud slinging by short sellers or real work on part of few folks
Feb 1 news said China MediaExpress comments on negative blog post (17.24 -0.58) : Co announced its management has become aware of the negative statements contained in the stock blog "Citron Research" issued on January 31st. CME confirms that they were never approached by Citron Research with respect to the Company, its growth, the advertising business in China or industry conditions generally and accordingly cannot comment on the reliability of their information or the thoroughness of their analytics. Based on a review of the negative statements, however, CME strongly disagrees with the views expressed and believes that investors should rely on the Company's public reports filed with the Securities and Exchange Commission. The Company expects to announce its audited financial results for the year ended 12/31/10 on schedule and will host an earnings call during which management will answer investor questions.
Actually this stock was even show cased by one of services offered by Zaks web site on. the report read as follows.
Who says it is not easy to fool even the savy stock pickers
We saw an awesome report from China MediaExpress Holdings, Inc. (CCME) this morning, with the company delivering Q3 earnings of 81 cents, well ahead of the Zacks Consensus Estimate calling for 69 cents. Shares are up nicely in early trade, but we are definitely seeing some volatility here, so let's go ahead and put a stop in place at $19.95 to guarantee a winning trade. If anyone misses the signal and shares are trading below the stop, go ahead and sell in order to protect your down side.
So if you are chasing China stocks in USA.
There are some great Chinese companies trading in China and USA
