Just announced today by Prudential Asset Mgt that it is no longe a Subst Shareholder of China Minzhong. This is a late announcement as Pru had sold 575,000 shares on 4 Jan and went below 5% stake. Don't understand why Pru sold so cheap a price. Probably around 90- cents. This will cause anxiety in the market and the share overhang will not go away so soon.
Hi Yeh,
A quick look at the trading volume and patterns during the past week suggested a different story.
There are some big buyers coming in and the stock looks poised for another upside in Jan-Feb 2012.
I have bought some stocks purely on trading ideas.
Expect the unexpected.
Last week, Macquarie report: We expect Minzhong to deliver revenue of Rmb837m and adjusted EPS of Rmb0.41 during the seasonally strong second quarter, representing 54% and 48% YoY growth, respectively.
Today, actual results: Only 19.4% and 11.8%, respectively, no wonder the stock is down 4.5 cents to $1.105.
Macquarie was tooooo optimistic.
Angmo doesn't mean zhun, ok.
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