{"id":7172,"date":"2015-10-15T14:02:06","date_gmt":"2015-10-15T14:02:06","guid":{"rendered":"\/?p=7172"},"modified":"2015-10-15T14:14:48","modified_gmt":"2015-10-15T14:14:48","slug":"kirin-international-holding-inc-otcmktskiri-goes-wild-on-the-charts","status":"publish","type":"post","link":"\/articles\/kirin-international-holding-inc-otcmktskiri-goes-wild-on-the-charts\/","title":{"rendered":"Kirin International Holding Inc (OTCMKTS:KIRI) Goes Wild on the Charts"},"content":{"rendered":"\n

Another session and another massive green day for Kirin International Holding Inc (OTCMKTS:KIRI<\/a>). By the closing bell yesterday KIRI<\/a>‘s share price was another 17% up, at $3.52 and at a three-year high for the company. There is still no logical reason for this latest price run.<\/p>\n

As we discussed in our previous articles, KIRI<\/a> is an OTC-traded company based in and operating out of China. There has been no news coming from KIRI<\/a> since early September and the share price has been on quite a rollercoaster ride since then.<\/p>\n

The original PR that sparked interest and helped KIRI<\/a> climb to $3 per share was dated Sep 10 an concerned a very intriguing deal. According to the announcement, KIRI<\/a> signed a memorandum of understanding to acquire 100% interest in a company called “Wuhan Yangtze River New Port Logistics Co”. This entity operates a logistics center on the Yangtze river – the longest waterway in China and all of Asia.<\/p>\n

The deal, should it ever evolve into something more than a memorandum of understanding, involves KIRI<\/a> issuing 160,000,000 shares at nearly three times its current market price, or $10 apiece, to acquire the company operating the logistics center in what would be a $1.6 billion deal. Frankly, we are having a bit of a hard time figuring out the logic behind such a move and especially behind the share price proposed for the deal.<\/p>\n

KIRI<\/a> had just 20 million outstanding common shares as of its last quarterly report dated June 2015.<\/p>\n

The big percentile run from under $2 per share last Monday to over $3.50 yesterday took place on virtually zero news or positive materially significant announcements from the company. KIRI<\/a> is currently running on formless, vague excitement and that could give way at any moment. Then again, every trader should be aware of the dangers of chasing a green runner up the charts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Another session and another massive green day for Kirin International Holding Inc (OTCMKTS:KIRI). By the closing bell yesterday KIRI‘s share price was another 17% up, at $3.52 and at a three-year high for the...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1781],"class_list":["post-7172","post","type-post","status-publish","format-standard","hentry","category-news","tag-kiri"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=7172"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7172\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=7172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=7172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=7172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}