IMHO some smaller syndicates were caught with the shares . They are trying to push them up to clear even at some loss. Dont be left holding the baby when the tide goes down.
Everybody now thinks every S-chip has accounting fraud issues, or are likely to be involved in such an issue. I am an exception. First, I say look at the industry -- are the players losing money? Is it an overly competitive industry? Shoe manufacturing is in such a state now. Who knows, after lots of players die out, Qingmei could emerge as a very profitable company. And who knows, maybe the boss will buy back the shares he dumped in advance of the fall of the profits. Clearly the guy knew how tough things would become, so he dumped. He is acting like any ordinary investor. And he would be buying back when he sees a strong upturn in profit.
S chips with such ridiculously low valuation regardless of whatever metric u used are good buys provided: you are prepare to lose all your investments, no pain no gain. It's a high risk- high rewards counter, like casino, make a good bet and u can get several times your capital back, make a wrong bet, be prepared to lose everything.
