Wall Street wasn't the only ones pumping and dumping junk IPOs, the hottest IPO market is in Hong Kong, but the excitement has jumped the shark to the U.S.-based listings...
Recall, three IPOs were withdrawn this week, and four recent Chinese IPOs are trading below their IPO price. The last time Chinese IPOs failed in the U.S.:
"Shares of Yixin Group, China’s biggest online car retailer, had surrendered most of their early gains by Thursday’s close in Hong Kong, disappointing market watchers who had anticipated a blockbuster debut."
The retail portion of the IPO was 560 times oversubscribed, attracting HK$382 billion of investor capital, making it the 10th most sought-after IPO in the city’s history.
"Fundraising from tech firms more than five times level in 2000"
Here is where things stand with U.S.-listed Chinese tech stocks:
This stock is the top holding in the China Technology ETF:
Any questions?
This stock is the top holding in the IBD 50 Momentum portfolio:
"YY"
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Runner-up bubble
"Shares of Yixin Group, China’s biggest online car retailer, had surrendered most of their early gains by Thursday’s close in Hong Kong, disappointing market watchers who had anticipated a blockbuster debut."
The retail portion of the IPO was 560 times oversubscribed, attracting HK$382 billion of investor capital, making it the 10th most sought-after IPO in the city’s history.
