Zhongmin Baihui: In response to a recent BT article alluding its gravity-defying stock price surge to a small shareholding spread & float, the company released data showing an increase in public shareholders from 264 to 398 during the period of 11 Mar to 25 May. This looks like an attempt to dispel market talk that the stock has been cornered. There was no disclosure what % of the 398 shareholders comprises its employees, suppliers, customers & related parties.
Within a span of one week, the stock has roller-coasted from $1.42 to a peak of $1.99 (+40%) before correcting a low of $1.33 (-33%) & is now soaring back up to $1.64 (+23%). Caveat emptor for those with strong hearts & weak heads (who don’t want to think too much).
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