What could possibly go wrong?
– Friday Humor: Chinese Stock Chart Of The Day (ZeroHedge, May 1, 2015):
We know it’s a little early for humor… but seriously, meet Beijing Baofeng Technology…
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.