We know it's a little early for humor... but seriously, meet Beijing Baofeng Technology...
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Beijing Baofeng Technology, the online video company with the worried boardroom, is the leading example of IPO excess. After jumping by the maximum-allowed 44 per cent from the offer price when it floated in Shenzhen just over a month ago, the stock has risen by the daily maximum of 10 per cent every day since.
Forget valuations; the company (“Storm” in English) has risen 17-fold in 26 trading days, making it far and away China’s best-performing stock this year. From being one of China’s tinier stocks, it is now valued at $2bn.
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Nope, no bubble there.
Source: The FT [4]
