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Wins Finance Up 100%: Is This A Normal Move?

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Wins Finance Up 100%: Is This A Normal Move?
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Wins Finance Holdings Inc (NASDAQ: WINS) shares skyrocketed Wednesday, soaring over 140 percent to $197.

The move followed another jump on Tuesday, when the stock gained 107 percent. For the month of June, share price has risen over 600 percent.

Wins' Big Loss

While the price seems huge for a stock that was valued at $20 just last week, Wins is actually down 2.7 percent in 2017.

Wins shares peaked on February 8 at $452, after opening the year at the $180 level. Days later, it was bouncing between $380 and $420 before plummeting at the end of March.

Looking to explain the stock's wild volatility, Bloomberg profiled the company on May 30.

From February: The Ultimate Pump And Dump? Wins Finance Up $100 Per Share

Is The Winning Just Luck?

Wins spokesperson David Rudnick told Benzinga Wednesday he “has no idea” why the stock is moving so drastically.

“As far as we know, this is market speculation,” Rudnick said. He added that the “same people are flipping [the stock].”

That said, Rudnick pointed out that this kind of volatility is highly unusual compared to the general market and isn’t even that typical among Chinese micro caps.

Nasdaq is currently in communication with the company’s legal department, but has not taken other actions such as halting the stock.

At time of publication, the stock traded at $175.18 per share.

Update: The stock was halted at 12:54 p.m. ET, last trading at $205.01.

Posted-In: China David Rudnick NASDAQNews Exclusives Movers Trading Ideas Best of Benzinga

 

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