Monday, January 28, 2013

Back in...CNIT?

What better day to come back to a neglected blog about a neglected stock than the day where volume, just midday, is over 10x the running average, and the stock is up several points to boot.

Let's not get excited, our friend CNIT, just like many Chinese tech microcaps born largely out of overexcitement for the Chinese market a couple years back (and, of course, the infamous reverse merger trend), has been battered and bruised in the past year.

Struggling within a range of ~.7-1.3 since June, but staying mostly within .9-1.1, the stock has seen little volume to squeeze it out in either direction.

In a later post I will discuss news surrounding CNIT. While there hasn't been a lot, there hasn't been none at all. If you've looked at CNIT's website and are wondering what I mean, check back later and I'll explain.

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