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  • Xinhua Finance Media: Why I Took a Chance on this Chinese IPO [View article]
    Indeed I made a mistake on the open price and IPO date of EDU (probably the others as well). I used Yahoo Finance to get the data and the first trading day available on Yahoo Finance is Sept. 15 with the open price of $25.36. Apparently I assumed Sept. 15, 2006 was the IPO day of EDU. I checked my record (I don't own the stock) and found the IPO day of EDU was actually Sept. 8, 2006. It was priced at $15, but opened at $22. I don't have records for LFC and BIDU, so I can't verify the open prices of them. But the point I was trying to make was these stocks all traded lower shortly after a strong IPO. But for XFML, the hype wasn't there.
    Mar 12 10:00 PM | Likes Like |Link to Comment
  • Xinhua Finance Media: Why I Took a Chance on this Chinese IPO [View article]
    Jerry: If you look at the how BIDU, LFC, and EDU moved after their IPOs, you know what I meant "went down." EDU opened at $25.36 on Sept. 15, 2006 and stayed around $25 until Nov. 7, 2006. BIDU opened at $66 on Aug. 5, 2006 and closed at $122, then went all the way down to $45 on Feb. 6, 2006. As for LFC, it opened at $8.7 on Dec. 17, 2003, traded as high as $13 on Dec. 29, then reached low of $7.5 on May 10, 2004. What I wanted to say was though all these traded higher when they first went public, but subsequently slided in the next several months before eventually started to take off (LFC stayed around $10 for more than one year until July 2005). So the hype of these Chinese stocks are obvious.
    Mar 12 04:16 PM | Likes Like |Link to Comment
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