It's a hugely underpriced IPO in a bubble (Tech stocks average P/E is over 100). +/- 10% is the price limit in Chinese stock markets.<p>So rather than having a price jump, this stock continues going up with little volume, until the "real market price" is reached.<p>Edit: It's oversubscribed by almost 300 times. <a href="http://mobile.reuters.com/article/idUSL3N0WI22B20150316?irpc=932" rel="nofollow">http://mobile.reuters.com/article/idUSL3N0WI22B20150316?irpc...</a>
see this article for well-written explanation: <a href="http://www.bloombergview.com/articles/2015-05-01/risky-debt-and-perfect-stocks" rel="nofollow">http://www.bloombergview.com/articles/2015-05-01/risky-debt-...</a>
It's odd that no one mentioned that they are makers of successful VR glasses: <a href="http://www.baofengmojing.cn" rel="nofollow">http://www.baofengmojing.cn</a><p>I am amazed how quickly VR is taking of. This must be the 10nth manufacturer using the same concept.
They got rid of most of the IPO pricing restrictions ages ago, now the primary driver is liquidity and margin lending, with official margined shares making up around 30% of the current free float and the Shenzhen market turning over its free float every 7 days (!). To put the margin in context, for the US market its around 3% of free float and you can margin 50-100%<p>ChiNext is on around 50x earnings now, most stocks above 5x PB. Could go further though, brokers only 2/3rds through their margin limit...
They make a great radio: <a href="http://www.amazon.com/BaoFeng-UV5R-Dual-Band-Two-Way-Radio/dp/B007H4VT7A" rel="nofollow">http://www.amazon.com/BaoFeng-UV5R-Dual-Band-Two-Way-Radio/d...</a> (cheap way to get into Ham).
NQ mobile--I still can't figure out what this stock does, or why the SEC has not delisted them. I think when it all blows, like always-- the big boys will have gotten out, and the little investor will have lost everything.<p>No wonder banks/investment houses are afraid of Elisabeth Warren? I feel she know what the future holds?<p>That reminds me I need to get my cd out of .10 percent this week. Yes, I am making .001 percent on my retirement. Homelessness--here I come! I'll even mention the wonderful bank that didn't inform me of the rate change--lovely Luther Burbank. "The bank that really keeps your info quiet!"
Increases by 10% everyday? On the front page of HN? Show's over. Now look for the MMs to attract buyers as they short it on the way down for buco $$$.