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  • My thought of the sell off on CSKI 2 comments
    Feb 22, 2010 4:09 PM | about stocks: CSKI

    If you understood how business is run in China, you know that there's nothing to worry about regarding the article posted by Manuel Asensio no matter it is true or false. Everything is up to the relationship between the company and the local gov. "misundertanding" or "miscommunication" can be fixed overnight among the company, local gov and the other department of the country. New drug can be issued, approved and repackaged to replace the questioned one in weeks. By considering the cash position, growth potential and gov relationship of the company, it is a attractive low risk buy at the current price $14.60 after a panic selling in good volume.

    Disclosure: Started a long position on CSKI at $14.84 stop loss if down below $13.2

    Stocks: CSKI
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  • drbuilder
    , contributor
    Comments (47) | Send Message
    Much agreed. It seems like any company that is befriended by the Chinese government is destined for success. The fact that CSKI had 30 products added to the Chinese National Insurance Directory should far outweigh this news. Investors have to look at Mr. Asensio's history on this stock. Last fall he was trying to build a case against them for fraudulent financial reporting. It seems that argument went by the wayside when CSKI was listed on the NASDAQ Global Select Market for strong financial characteristics, credibility and high ethical standards. Once CSKI clarifies this nonsense, he will be off looking for the next topic to exaggerate. If their earnings report comes out in line with estimates, then there's no reason this stock shouldn't be in the $20-25 range, possibly better.
    22 Feb 2010, 08:34 PM Reply Like
    , contributor
    Comments (29) | Send Message
    Author’s reply » The CSKI may do have some issues mentioned by Mr. Asensio. But every company has issues here or there. I start questioning about the motivation of the article from short-sellers. I think the market overreacted to a single article today especially one from short-sellers. I guess the short-sellers have successfully pulled their loss from their shorts into break-even or even profit from todays down. I have to say poor share holders who sold their stock today.
    23 Feb 2010, 02:25 AM Reply Like
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