Bleecker Street Research
Long/short equity, special situations

China Information Technology: Numerous Red Flags Surround This Company

About a month ago there were a number of Chinese stocks that were going parabolic. Mainly low-float Chinese stocks were making these moves. I shorted several of these and some worked and some didn't, but almost all of them have since settled down. Now that many of the momentum traders who will buy anything that is up 30% in a few days have left these stocks, I think that now would be a much safer time to short these type of stocks. One of the stocks in particular is China Information Technology (NASDAQ:CNIT).

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CNIT is a Chinese information technology company. By the company's own description it provides mainly smart education, smart family, smart business, public...

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