China Medical (CMEDY.OB) +14.8% and has now recovered steep losses it made on Friday and Monday following news that bondholders had filed a petition for liquidation. With remarkable prescience, SA contributor Paul Nouri wrote last week that shorting the stock was a "significant risk," citing the mysterious accumulation of $100M of shares by two unknown investors.
Shares of China Medical (CMED -14.6%) fall steeply after the firm says it will implement debt restructuring with new rates and terms for holders. The story at CMED continues to get grimmer with fraud allegations lingering and shares now off over 75% YTD.
Shares of China Medical (CMED -19.5%) plunge after Glaucus Research alleges the medical device maker's CEO "orchestrated an acquisition to embezzle roughly $20-$23 million from the public company." Glaucus says CMED overpaid for the acquisition from an entity it believes is secretly related to the company's CEO. CMED denies the allegations.
Medical device supplier China Medical Technologies (CMED +14.8%), which closed near its 52-week low yesterday, shoots higher after reporting FQ2 revenue of $37.4M (+18% Y/Y) and EPS of $0.53; the former missed by $0.4M, but the latter beat by $0.04. In addition, the company is guiding for FY12 EPS of $1.94-$1.98, above a Street forecast of $1.81.