{"id":5044,"date":"2018-09-14T18:50:44","date_gmt":"2018-09-14T22:50:44","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=5044"},"modified":"2018-09-14T18:57:04","modified_gmt":"2018-09-14T22:57:04","slug":"chinese-fireworks-two-china-ipos-skyrocket-in-opening","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/chinese-fireworks-two-china-ipos-skyrocket-in-opening\/","title":{"rendered":"Chinese Fireworks: Two China IPOs SkyRocket in opening"},"content":{"rendered":"<p><em>IPO BOUTIQUE has brief thoughts on the way that the Chinese IPO, Qutoutiao Inc (QTT) began trading&#8230;<\/em><\/p>\n<p><!--more--><\/p>\n<p><b>Qutoutiao Inc. (QTT) &#8212;<\/b> <b>This IPO will be the most talked about of the week because of the extreme volatility and the numerous \u201ctrading halts\u201d out of the gates<\/b><span style=\"font-weight: 400;\">. <\/span><b>QTT priced a downsized offering at a low-end price of $7.00 and opened 30% above issue price with a $9.10 first trade.<\/b> The deal rocketed higher from there with an extremely wide spread. Within the first seven minutes, QTT hit a high of $15.99 or 128% above the offering price and ultimately traded as high as 191% before\u00a0closing at 92% above issue. But in that same timeframe, the trading halts \u201cbroadcasted\u201d signs of <b>manipulation<\/b><span style=\"font-weight: 400;\">. This type of extreme trading, wide spreads and given that it is a Chinese stock will only pour fuel on the fire when it comes to future Chinese stock IPOs. <\/span><b>This particular company is very young with immense competition and not even the most optimistic view of this company could justify the valuation at which this company is trading<\/b><span style=\"font-weight: 400;\">. WIth many Chinese offerings on the calendar for 2018, it is our opinion that this is a type of IPO opening that artificially drums up interest in China with \u201chopes of getting rich quick\u201d by amateur investors who will now think to \u201cbuy all Chinese IPOs\u201d. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Simply put, we think this is not healthy and we think the trading action that we saw today should be examined meticulously by Nasdaq and the SEC.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO BOUTIQUE has brief thoughts on the way that the Chinese IPO, Qutoutiao Inc (QTT) began trading&#8230;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[24,1536],"tags":[],"class_list":["post-5044","post","type-post","status-publish","format-standard","hentry","category-ipo","category-subscriber-content"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/5044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=5044"}],"version-history":[{"count":2,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/5044\/revisions"}],"predecessor-version":[{"id":5049,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/5044\/revisions\/5049"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=5044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=5044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=5044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}