Looks like somebody (those damn daytraders!) plans to have fun with Fuwei Films (Holdings) Co., Ltd (FFHL) today. I always wonder which low float stocks will get gamed during this holiday week. A recent low-float Chinese IPO seems like as good a choice as any. Here's what Briefing had to say about them last week (emphasis and emoticons are mine):
Fuwei Films IPO prices toward low end of range; Chinese producer of plastic film (8.28 ) : Fuwei Films Holdings (FFHL) prices its IPO at $8.28, towards the low end of the expected range of $8-10, which had been reduced from $8-12. The co makes plastic film ( 8-| ) used in consumer packaging (food, drugs, cosmetics), imaging (masking film, printing plates and microfilms), electronics (wire and cable wrap), as well as in magnetic products (audio and video tapes) ( :| )... Fuwei makes its plastic film using the biaxial oriented stretch technique, known as BOPET film... The co is profitable and posted 1H06 revenue of US$27.5 mln, up 38% yr/yr... Briefing Note: We don't really have a feel for this one either way and of the four IPOs today, this is the only one not to price at the high end or above range so traders have other names to focus on today. However, since it's a low profile, Chinese deal with a small offering at 3.75 mln shares, we would keep it on the radar. eFuture (EFUT) had similar characteristics and was eventually picked up by the momentum crowd for a huge move last month.
Let the game of FFHL hot-potato begin...
On Today's Calendar:
- Nothing today
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
TELK -72% (disappointing trial results for cancer drug), SIGA -8.5% (discloses it has been sued by PharmAthene, which claims it has the right to license SIGA-246), ESCL -5% (extends Friday's 21% sell-off), OPWV -4.3% (files 10-Q), MAMA -3.1% (extends Friday's 23% sell-off), AMR -1.8% (files its Eagle Eye update to investors), Under $3: GNBT -6% (announces shelf offering), TORM -3.9%
Gapping Up
ANX +21% (cleared to begin clinical trial), FFHL +12% (being picked up by momentum traders as a low float Chinese IPO), TAYD +8.7% (earthqauke off Taiwan coast; also CLWT +7.6%), SCLN +6.4% (extends Friday's 39% move), APKT +5.4% (Cramer bullish on mad Money, says stock has not even started to run yet), TMR +4.1%, ITMN +5.1% (Wachovia and Leerink Swann upgrades; extends Friday's 29% move), SGMS +2.9%, SIRI +1.1%... Under $3: EPCT +17% (licenses patent to Durect).
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