{"id":21760,"date":"2023-09-24T12:33:49","date_gmt":"2023-09-24T12:33:49","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/traders-and-investors-see-opportunity-in-high-stakes-musical-chairs-of-chinese-stocks-stocktwits-says\/"},"modified":"2023-09-24T12:33:50","modified_gmt":"2023-09-24T12:33:50","slug":"traders-and-investors-see-opportunity-in-high-stakes-musical-chairs-of-chinese-stocks-stocktwits-says","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=21760","title":{"rendered":"Traders and investors see opportunity in high-stakes \u2018musical chairs\u2019 of Chinese stocks, Stocktwits says"},"content":{"rendered":"
\n

Despite the opacity of China\u2019s economy, small-cap Chinese stocks continue to attract attention, according to\u00a0Stocktwits, a social platform for investors and traders.<\/p>\n

\u201cInvestors still think they can play this high-stakes game of musical chairs,\u201d Tommy Tranfo, head of community at Stocktwits, told\u00a0MarketWatch.<\/p>\n

\n

Tranfo explained that one of the biggest challenges related to Chinese stocks is working out exactly what is happening in China. \u201cIt\u2019s impossible to know what is true coming out of China,\u201d he said. \u201cAny financial news or data that comes out of China has so many grains of salt associated with it that it\u2019s inedible.\u201d<\/p>\n

Related: <\/strong>Small-cap Chinese stocks spark meme-like buzz<\/p>\n

Nonetheless, a host of small-cap Chinese stocks, notably TOP Financial Group Ltd.
\n TOP,
\n -3.31%<\/bg-quote>,<\/span>
\n sparked meme-like attention earlier this year. Shares of the Hong Kong-based trading firm skyrocketed after they proved popular with the WallStreetBets group on Reddit.<\/p>\n

TOP Financial\u2019s stock has fallen 23.1% in the last three months, while shares of Huadi International Group Co.
\n HUDI,
\n -1.11%<\/bg-quote>,<\/span>
\n another favorite, have fallen 22.2%. Shares of fellow buzzy Chinese small caps Addentax Group Corp.
\n ATXG,
\n -3.53%<\/bg-quote>
\n and Magic Empire Global Ltd.
\n MEGL,
\n -1.68%<\/bg-quote>
\n have fallen 79.7% and 25.9%, respectively, outpacing the S&P 500 index\u2019s
\n SPX
\n decline of 0.8%.<\/p>\n

But there\u2019s still interest in Chinese stocks, according to Tranfo, who pointed to insurance-technology specialist Cheche Group Inc.\u2019s
\n CCG,
\n +31.45%<\/bg-quote>
\n recent merger with special purpose acquisition company Prime Impact. The combined company began trading on the Nasdaq on Sept. 18, with its stock surging more than 581% that day.<\/p>\n

Related:<\/strong> Meme stock TOP Financial Group soars more than 890%, spurred on by the Reddit crowd<\/p>\n

\u201cWhen our community sees that kind of activity, they raise their eyebrows,\u201d Tranfo said. \u201cThe interest [in these stock movements] is coming from traders, more so than investors. People are looking to quick opportunities.\u201d<\/p>\n

Some investors, however, are taking a long-term approach to certain Chinese stocks. \u201cWe have seen really amazing stuff from our community,\u201d Tranfo said, citing the example of coffee chain Luckin Coffee Inc.
\n LKNCY,
\n +4.74%<\/bg-quote>,<\/span>
\n which had what he called an \u201cincredibly positive\u201d IPO in 2019.<\/p>\n

Luckin subsequently became been embroiled in a\u00a0financial misconduct investigation that caused its stock to collapse. The Starbucks Corp.
\n SBUX,
\n +0.62%<\/bg-quote>
\n rival was eventually delisted from the Nasdaq but is now trading over the counter.<\/p>\n

Related:<\/strong> China\u2019s economy is suffering, and consumers won\u2019t open their wallets \u2014 except to see movies<\/p>\n

In an attempt to find out what was happening at Luckin, some investors on the Stocktwits platform dived deep into the company\u2019s operations. \u201cWhat came about over the next few years was that we had people in our community go to mainland China,\u201d Tranfo\u00a0said, adding that the \u201cboots on the ground\u201d researchers tracked orders at Luckin stores and reported the data back to the Stocktwits community.<\/p>\n

Set against this backdrop, Luckin was brought back to a penny stock and is now trading above $32, Tranfo said, while acknowledging that China poses a unique set of challenges to investors.<\/p>\n

Last month officials in China said they would stop reporting youth unemployment data after months of spiraling increases, the Wall Street Journal reported. The move comesat a time when the Chinese economy faces multiple challenges, from a reported real-estate crunch to consumer-spending woes, all amid ongoing geopolitical tensions with the U.S.<\/p>\n

But traders and investors on the Stocktwits platform are still finding ways to look beyond these issues and tap into Chinese stocks. \u201cThe commonality between these two groups of people is that they can ignore all the noise,\u201d Tranfo said. \u201cThe ability to drown that out is like a superpower.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite the opacity of China\u2019s economy, small-cap Chinese stocks continue to attract attention, according to\u00a0Stocktwits, a social platform for investors and traders. \u201cInvestors still think they can play this high-stakes game of musical chairs,\u201d Tommy Tranfo, head of community at Stocktwits, told\u00a0MarketWatch. Tranfo explained that one of the biggest challenges related to Chinese stocks is<\/p>\n","protected":false},"author":1,"featured_media":21761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-21760","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nTraders and investors see opportunity in high-stakes \u2018musical chairs\u2019 of Chinese stocks, Stocktwits says | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Despite the opacity of China\u2019s economy, small-cap Chinese stocks continue to attract attention, according to\u00a0Stocktwits, a social platform for investors\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microloannexus.com\/?p=21760\" 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