What a day! Curse or gift, I own two of the most volatile stocks: CCME and IRE.
China MediaExpress Holdings, Inc. (CCME) 中国高速频道: Opens at 20.45, dipped down 18.34 at 12:47, recovered to 19.55 within 5 mins, then raise to 20.64, slid down to 19.22 and held. Starting at 15:18, the BLOOD BATH began. The stock, with a previously tested bottom of 18:75, plugged down to 17.85 and the tug war continued for 20minutes until closing at 17.85. After hour trading, the stock went down to 17:11! And the war continues on Yahoo message board after the bell.
So this is what could happen on a life-time Short squeeze! Nasty! Well, I am surfing this f**king wave along!
“No One in China Has Ever Heard of Them.” said Citron…I guess they are claiming no one in China reads Forbes!
Forbes China Jan 31, 2011 Screen Capture
Citron listed quite a few links to prove that CCME is a “phantom company” by pointing out CCME is not listed in the article, this one about 360 media.
http://news.cnfol.com/110121/101,1587,9211427,00.shtml
Citron claims that this article covers “all of inter-city bus advertising and again, no mention of CCME. Covered entities are Towona, Bus-Online, and Vision China Media.” If you read the Chinese text! It talks about the business model of 360 media:
目前，360媒体网的流程已经初步完善。流程大致如下：某媒体主拥有广深高速公路上的T牌，注册成为360媒体网的会员，把具体的T牌信息登记入网，将自动生成一个媒体编号。如果有企业主对该路段的T牌感兴趣，双方即可在线通过360媒体网达成交易。
Apparently, 360 media is a plat form for buyers and sellers for “Bulletin Boards on highways”! Yes, bulletin boards, no mention of the “inter city” buses. The word “out door” is quite of a word play!
Similar logic fills Citron’s article. However, it has no mention of Forbes, no mention of the 4 auditing company, no mention of being in China. Every example they used are from “online sources”. Examine closely on Citron’s intention!
Other folk’s comments:
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MUST VIEW – Groundwork with videos, pics, and other research
SEC Filings – which gives evidence to their continually amazing results
http://www.nasdaq.com/asp/quotes_sec.asp…
Balance Sheet – $170 million cash and very little debt
http://finance.yahoo.com/q/bs?s=CCME
Major Holders
http://finance.yahoo.com/q/mh?s=CCME+Maj…
Here is link to Deloitte’s report:
http://yahoo.brand.edgar-online.com/disp…
Institutional holders
http://www.nasdaq.com/asp/holdings.asp?symbol=CCME&selected=CCME&FormType=Institutional
Articles illustrating all of the different reasons CCME is an amazing company
1)This shows why CCME is above the other China small caps
http://seekingalpha.com/article/246985-i…
2)A variety of reasons to own CCME including fundamental reasons and how undervalued the stock is
http://seekingalpha.com/article/245216-p…
3)A reiteration of all of the different reasons CCME is one of the best stocks in the world
http://seekingalpha.com/article/249009-p…
4)The giant short squeeze is coming
http://www.thestreet.com/_yahoo/story/10…
5)Ranked as one of the World’s top stocks by Investor Business Daily
http://seekingalpha.com/article/247305-c…
6)Quick breakdown of the reasons CCME is great and the best stock in the world
http://seekingalpha.com/article/242389-c…
Having a top tier auditor adds to their legitimacy and quality
http://messages.finance.yahoo.com/Stocks…
Regsho – naked shorting is happening and in a few days those shorts will be forced to cover
http://messages.finance.yahoo.com/Stocks…
Quality Business Model
http://messages.finance.yahoo.com/Stocks…
New Advertising Platform, SWITOW – http://www.switow.com/
http://messages.finance.yahoo.com/Stocks…
Breakdown of everything CCME – read intro message
http://investorshub.advfn.com/boards/boa…