Mysterious Chinese Stock Trades More than JPMorgan
When talking about the Worlds most traded stocks you might be thinking about Tesla or Apple Inc, but Fangda Carbon New Material Co. is the new name to be looking out for.
On Friday, Fangda Carbon was the 11th most-traded common stock in the world. Rising 200% since June. Its turnover exceeded that of JPMorgan Chase & Co. which has a market value of $331 billion!
Fangda Carbon New Material is sitting right below Facebook, Microsoft, and Alibaba in the Worlds most trade stock.
The Shanghai stock exchange is taking notice in the unusual jump during China's uneventful exchange this year. Unusual trading from some investors sparked warning and written notices to those making suspicious investments. These warning are from the Worlds second largest stock exchange, especially after an equity crash of trillions of dollars occurred two years back in China.
On July 24th the companies income from their 1st quarter report rose 26 times over its last report. Strangely enough shares jumped before their income report even went public...
This obscure Chinese maker of graphite electrodes is making a big scene in the exchange. It is speculated that the companies product is used in electric car batteries which may be increasing in demand this year to come especially with the Chinese government subsidizing electric cars. Right now the cause of this obscure stock rising with the giants is said to of been due to speculative trading, although there does appear to be strange patterns related to the stock, which are still be monitored with close eyes.
When talking about the Worlds most traded stocks you might be thinking about Tesla or Apple Inc, but Fangda Carbon New Material Co. is the new name to be looking out for.
On Friday, Fangda Carbon was the 11th most-traded common stock in the world. Rising 200% since June. Its turnover exceeded that of JPMorgan Chase & Co. which has a market value of $331 billion!
Fangda Carbon New Material is sitting right below Facebook, Microsoft, and Alibaba in the Worlds most trade stock.
The Shanghai stock exchange is taking notice in the unusual jump during China's uneventful exchange this year. Unusual trading from some investors sparked warning and written notices to those making suspicious investments. These warning are from the Worlds second largest stock exchange, especially after an equity crash of trillions of dollars occurred two years back in China.
On July 24th the companies income from their 1st quarter report rose 26 times over its last report. Strangely enough shares jumped before their income report even went public...
This obscure Chinese maker of graphite electrodes is making a big scene in the exchange. It is speculated that the companies product is used in electric car batteries which may be increasing in demand this year to come especially with the Chinese government subsidizing electric cars. Right now the cause of this obscure stock rising with the giants is said to of been due to speculative trading, although there does appear to be strange patterns related to the stock, which are still be monitored with close eyes.
Author: Ross (@rimbuknyc)