ChinaCache continues rally after obtaining cloud credential

|About: ChinaCache International (CCIH)|By:, SA News Editor

China's IT ministry (MIIT) has granted ChinaCache's (CCIH +2.6%) cloud computing and storage services the status of "Credible Cloud Services." ChinaCache says it's now one of ten firms to have attained the credential. (PR)

Competition within China's growing cloud infrastructure market has been picking up. Amazon, IBM, and China Unicom each unveiled Chinese cloud infrastructure offerings last month. Alibaba, which launched its AliCloud platform in '09, remains the market leader.

ChinaCache shares are continuing their massive 2014 rally (previous); they're now up 64% YTD. Bullish analysts and SA authors have been trumpeting the company's low price/sales multiples for a while.