PONS is up 25%, trading at 0.30 yuan, with turnover of over six million. That figure alone isn’t much, but it’s already at the top of the gainers’ list.
With trading this light, it looks more like nobody’s selling. A stock with a 200-million-yuan market cap has been pushed up 25% on just a few million yuan of trading. The shares are concentrated in a few hands, and there are so few sell orders above that you can count them. The thing that makes this kind of stock tricky is that nobody sells when it rises, and nobody steps in when it falls. There’s just a vacuum in between.
Whether it can keep going depends on volume. If volume multiplies and it can still hold above 0.30 yuan, that means new money is coming in. If it keeps inching up on the same few million in volume, then it’s just being pumped for show.
With trading this light, it looks more like nobody’s selling. A stock with a 200-million-yuan market cap has been pushed up 25% on just a few million yuan of trading. The shares are concentrated in a few hands, and there are so few sell orders above that you can count them. The thing that makes this kind of stock tricky is that nobody sells when it rises, and nobody steps in when it falls. There’s just a vacuum in between.
Whether it can keep going depends on volume. If volume multiplies and it can still hold above 0.30 yuan, that means new money is coming in. If it keeps inching up on the same few million in volume, then it’s just being pumped for show.