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September 24, 2007

Chinese Precision Steel Continues Rise

posted by MR WAVETHEORY at 9/24/2007 08:55:00 AM
I pointed out China Precision Steel's potentially inaccurate P/E information on Friday on Y! Finance and today the stock continues to rise. It is up 54% today and at $8.25. The stock was trading at $3.45 three trading days ago on Wednesday last week. It shows that all things China are getting bid up. I can't seem to find a website for the China Precisiona Steel, Inc. (Nasdaq CPSL). Maybe somebody can point me to it. I don't want to be too quick to judge, but isn't having a website a requisite for being a public company?

Also up today China Technology Development (Nasdaq CTDC) and China Natural Resources (Nasdaq CHNR) which are also well known China stocks that have had sharp rises - and falls - in the past. With the single thread of commonality being the name "China" in their names, these companies all seem to do various odd things and are roll up businesses - meaning previous shell companies doing reverse mergers into existing companies. In a word, built for trading and packaged for investors to exit based on skillful financial engineering.

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Blogger Cliffhucker said...

CPSL website

Shanghai Chengtong Precision Strip Co., Ltd

CPSL: Message Board for China Precision Steel, Inc. - InvestorVillage

3:18 PM  
Blogger D said...

What's the reason why this stock isn't just the greatest short ever at this point?

People are hyped about it, but they did offer themselves at $3 in March. Has anything changed?

9:35 AM  
Blogger D said...

According to Dylan Rattigan on CNBC, Warren Buffett is NOT buying a stake in the company.

12:12 PM  
Blogger MR WAVETHEORY said...

If Warren buffet bought a stake in CPSL, the world would be upside down.

1:16 AM  

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