To follow up on my Wall Street Journal story
from Saturday regarding the possible perils of investing in U.S.-listed China stocks created from reverse mergers: On Tuesday the Securities and Exchange Commission suspended trading in China Energy Savings (CESV
This was a China-based company from the reverse-merger class of 2004 that made its way into the Russell 2000 as its stock zoomed as high as nearly $30 before it was delisted in February at $7; it's now just pennies.
According to the SEC order (.pdf), there is concern whether the company's CEO ever existed.
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