13031% return, earning by tearing roof on listing day itself, investment of Rs 400 made 52 thousand – This Chinese firm Stocks 13000 percent Surge after listing in US Stock Exchange tutc

13031% return, earning by tearing roof on listing day itself, investment of Rs 400 made 52 thousand – This Chinese firm Stocks 13000 percent Surge after listing in US Stock Exchange tutc
13031% return, earning by tearing roof on listing day itself, investment of Rs 400 made 52 thousand – This Chinese firm Stocks 13000 percent Surge after listing in US Stock Exchange tutc

The stock market is a fluctuating business. Here no one can say when which stock can make both the investor and the company rich in one stroke. Something similar happened with a Chinese company. Actually, on Wednesday, the shares of Addentax Group Corp were listed on the US stock market. As soon as the listing was done, there was such a boom in the shares that everyone was surprised.

Share price reached $656
According to a Bloomberg report, Shares of Addentax Group Corp climbed 13,031 percent with the listing on Nasdaq. The company’s stocks were listed on the stock market at the rate of $ 5 per share. But after the listing, there was a strong rise in them and the stock price of $ 5 rose to $ 656.54 per share. Investors investing in the shares of the company were surprised to see this wildly increasing price of their shares.

Company valued at $20 billion
This tremendous jump in shares also affected the value of the company and the market capitalization of Addentax Group Corp reached $ 20 billion. Some Chinese companies have already done this kind of feat. Whose shares took flight from the floor to the floor after the listing. These include companies such as AMTD Digital Inc. and Magic Empire Global Ltd. of Hong Kong and China.

Investors got bat-on-bat
According to the report, due to the rise in the company’s shares, its CEO (CEO) joined the list of billionaires. Chairman and CEO Hong Jida and his brother Hong Zhiwang’s wealth rose to $1.3 billion. With a jump of more than 13,000 per cent, the value of this company has surpassed the MCap of most of the companies included in the S&P 500 Index. There was no limit to the happiness of investors seeing the rising price of their shares.

Many Chinese companies did this feat
However, no comment has been made from the company’s side regarding this rise in shares by this Nevada-based company. But it is also worth noting here that before this, the Chinese companies whose shares saw such a boom after the debut, their shares were also seen as a rocket. That is, in clear words, as the company reached the sky in one stroke, with the same shock, it fell back to the ground and the CEO of the billionaire turned company again reached the same place from where he had started.

Shouldn’t this happen?
Recently, the news of Magic Empire Global Ltd of China made headlines. The shares of this company had climbed up to 6,149 percent after the listing and the company’s market cap had gone up to $ 5 billion. But, when the company’s founders were celebrating becoming billionaires, there was a sudden tsunami in its shares and the share price fell by 89 percent. Due to this, both the founders Gilbert Chan and Johnson Chan again reached the same place from where they started their journey to become billionaires.

The article is in Hindi

Tags: return earning tearing roof listing day investment thousand Chinese firm Stocks percent Surge listing Stock Exchange tutc

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