So a $2.4/share dividend for Lufax. Looks like I guessed right. Might be an interesting strategy to regurlarly screen for large volume spikes 1-2 days before earnings.
The big risk with Chinese stocks is, of course, fraud. The managers know they can't be prosecuted in China. The cash balances of many Chinese stocks simply did not exist because it is relatively easy to fake cash statements in China.
Maybe the situation is better now, but I am still sceptical.
This $LU screens like "danger". That Valueinvestorclub write up was from 2022 and in the meantime, the share went down 86%. The company recently did reverse stock split so that it the price is above 1$ so that it can stay on NYSE. The company has shrinking revenue and profit quarter by quarter since exception.
So the only positive things is backed by Ping An and jump in HK shares comparing to US shares.
If it is arbitrage opportunity than the stock is 15.42% Higher in HK than in USA, sure, but at the same time one can buy Bank of Communications in Hong Kong for 24.67% Lower than in Mainland China, so there are better arbitrage opportunities probably.
I wonder if Turtles is legit actually.... or another pump and dump scheme. I think that when I followed a substack stock, that it was a really a bad trade. In some circumstances although, stock was fairly large, and not the pump and dump...
So a $2.4/share dividend for Lufax. Looks like I guessed right. Might be an interesting strategy to regurlarly screen for large volume spikes 1-2 days before earnings.
you're on fire, mate! thanks
The big risk with Chinese stocks is, of course, fraud. The managers know they can't be prosecuted in China. The cash balances of many Chinese stocks simply did not exist because it is relatively easy to fake cash statements in China.
Maybe the situation is better now, but I am still sceptical.
It's funny how 3/4 of last two quick idea posts worked rather well, but they got far less likes than my other posts.
This Lufax situation is pretty funny. Well played!
I didn't bite. The "I should to less trading, more investing" - angel on my shoulder won this time.
45% yesterday!! As a Chinese stock watcher, I would say fake cash is not often in this days than 5 years ago!
This $LU screens like "danger". That Valueinvestorclub write up was from 2022 and in the meantime, the share went down 86%. The company recently did reverse stock split so that it the price is above 1$ so that it can stay on NYSE. The company has shrinking revenue and profit quarter by quarter since exception.
So the only positive things is backed by Ping An and jump in HK shares comparing to US shares.
If it is arbitrage opportunity than the stock is 15.42% Higher in HK than in USA, sure, but at the same time one can buy Bank of Communications in Hong Kong for 24.67% Lower than in Mainland China, so there are better arbitrage opportunities probably.
I wonder if Turtles is legit actually.... or another pump and dump scheme. I think that when I followed a substack stock, that it was a really a bad trade. In some circumstances although, stock was fairly large, and not the pump and dump...