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Chinese Tech Company's 3,000% Post-IPO Gain Takes Unthinkable 4% Hit
Two weeks ago, we brought you the story of Beijing Baoefung Technology which in many ways exemplifies everything that's wrong (or right, depending on whether you, like Japan’s Economics Minister Akira Amari, have come to believe that bubbles are good) with today's capital markets. The online video company's shares posted a remarkable post-IPO run amid China's red-hot equity mania, but as FT reports, something went terribly wrong on Thursday: the stock fell.
This column’s favorite stock for the past month has been Beijing Baofeng Technology, which offers online videos in China. Baofeng means “storm”, and it has been a near-perfect performer: its shares traded limit-up every day from its March IPO in Shenzhen apart from one, and opened up the maximum 10 per cent on Thursday, too.
It looks like the storm has now broken. Its shares ended the day down for the first time, falling 4.4 per cent after news of a copyright dispute over content.
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QE time!
It's a moral outrage that stocks can go down. Let's petition the government about this unfairness.
You are all just sour graping at missing the once in a lifetime chance to get RICH!
Now let me head off to the Bahamas.
In the US Good News = Stocks go up Bad News = Sticks go up more. Some one hand them the rule book. It's now time for buy backs, QE, POMO and all sorts of BTFD incentives.
lol i'm happy i bought this stock and not gold
can probably buy most of the gold owned by 99 percent ZHers now :P
Have to admit that bought a couple of these Baofeng hand held ham radios. 35 Bucks? I was wondering how thay make any money on these.
BTW tyler(s)
typo in this article. It is in fact 'Baofeng'
http://qz.com/405666/a-copyright-lawsuit-has-finally-stopped-the-crazy-s...
They make money on those radios with 50 cent/hour labor. Pretty good units for cheap. Also more reliable communication than FRS for training missions.
Someone is seriously FUCKING with Cable. gbp/usd.
There's no way this pig should be so bid. Someone is leaking liquidity into that curency. Belgium/Euroclear ~ BIS?
Someone is leaking excess reservses into cable. The gap from the elections hasn't been closed and the retail numbers are all on CL gains.
Only 25% of GBP economy is manufacturing. Next week the shit hits the fan.
I wouldn't be surprised if cable is being spoofed by some dikwad algos. Who's those assclowns that won every day except one?
I think something's up in general. If we don't see an AU smackdown by this time tomorrow I completely agree that next week is a SHTF week.
Who's those assclowns that won every day except one?
Virtu, I believe.
What's Mandarin for BTFD?
You can tell when algos are spoofing orders, in f/x. The zero lag<>MACD stays constant and the Yurkik indicator gets punched from underneath.(1-5min chart)
It's so obvios these clowns are ghosting "bids" for the buy side dealers. The dealers have to cover those trades, so they fill the orders.
The term "those who fail to learn from history are doomed to repeat it" has never been more apropos. If there is one aspect of education that has cheated the younger generations more than anything it is the failure to teach unabashed uncensored and unforgiving history.
Although every generation is afflicted with their own normalcy bias I think it is even more prevalent today. If you were to ask the residents of Dresden in 1938 what there city would look like in 7 years and the vast majority would have told you it would be even more modern and with more residents.
My point? It won't last, nothing does and without a perspective of history people are not given a choice to measure the real risk. Ex farmers and chicken butchers betting it all on black is not going to work.
I got a job as a headhunter for corporations in China.
Couldn't believe my luck, every time they put a new job up, the guy they were after was standing right next to me!
It's all a plot to single out the greatest of the greater fools. They'll be on the target marketing list for baby life insurance, reverse mortgages, and every useless product that once sold through Sky Mall for the rest of their lives.
Even the Bitcoin bubble was less wild !