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September 27, 2007

KongZhong, Hurray, and Linktone Get Unwired

posted by MR WAVETHEORY at 9/27/2007 08:08:00 AM
The Chinese wireless value added service provider stocks are getting a huge boost today on good news that China Mobile (NYSE CHL) is going to share more lucre with the content providers. These stocks have tanked big time recently and now are going up 20, 30% today. KongZhong (Nasdaq KONG) is up 36%, Hurray Holdings (Nasdaq HRAY) and Linktone (Nasdaq LTON) are up 20%.

The big question is how far these stocks have to run. Big shareholders in these stocks are Renaissance Technologies, Caxton, and Farallon Capital which are all major hedge funds. Goldman Sachs is also an investor. They may be just picking up these stocks cheap and flipping them. Buy to flip or buy to hold?

If the revenue and profit picture improves on these stocks, then these will be good companies to own.

Update: Kong has the highest trading volume today 8.4 million shares. Hurray has about 500K and Linktone 800K.

Update 2: KongZhong is the 7th most actively traded stock on Nasdaq today - 18 million shares traded so far with 3 more hours to go. Its up 56% now. It is the top gainer on Nasdaq today. Also up more are Linktone +34%, the #2 gainer on Nasdaq playing catch up with Kong. Hurray is getting more interest +23%, #7 gainer on Nasdaq.

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