The wild stock movements of several small cap Chinese companies — and the U.S. firms that advise them — are raising eyebrows on Wall Street.
Illustration by Tim Marrs
Earlier this summer, a small Chinese company based in the seaside city of Xiamen went public on the Nasdaq Stock Market. It immediately turned into a sensation. The stock price for Pop Culture Group soared 1,200 percent in two days — from $6 a share to $78 a share — helping the company raise $37.2 million dollars.
Pop Culture Group’s allure, while not anticipated, is a common one for investors: a Chinese company with a niche concept promising to take its massive domestic market by storm
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In January, the arrest of a Chinese national in the Philippines led to the unravelling of an alleged espionage operation coordinated from Beijing. In an excerpt from their upcoming book, The Great Heist, David R. Shedd and Andrew Badger look at the Manila “spy ring” and its possible connection to China’s hypersonic missile program.
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