Welcome to Money Talk Sundayz market recap. If this is your first time here go ahead and smash that like button and subscribe if you haven’t done so already. Today we’re going to go over some of the biggest gainers over the last week and what to expect from them going into this next trading session. Buckle up ladies and gents, it’s going to be a bumpy ride. Why? Chinese stocks seem to be in play for the next couple weeks. Let’s unpack.
First up we have BEST inc. To be honest with you, I never heard of this stock but after seeing who made the best moves this week and seeing this entity at the top of the chart, I had to take notice and do some digging. It wasn’t easy, I guess being that it’s a China-based holding company. Anyway, this stock rocketed up to $1 on Friday after opening the day’s trading session at roughly around 60 cents. In after hours, it fell 15 cents and is currently sitting at 85 cents a share. It’s last high of $1.11 was reached on Valentine’s Day and has seen a steady decline until the 10th of this month where it began surging. I’m intrigued in this stock for a short-term play. I’m debating a put option or snagging a few shares for the swing upwards. Might do both just to cover my ass. I don’t know what caused this upward swing for this stock and I’ve been doing my googles. If any of you viewers happen to have more info on this stock do share because we here at Money Talk Sundayz want to know more. All we know for now is that BEST Inc is a China-based holding company. The Company mainly conducts its business through its subsidiaries, variable interest entities (VIEs) and VIEs' subsidiaries. The Company operates its business through five segments. The Supply Chain Management Services segment provides warehouse management, order fulfillment services and transportation services to its offline and online enterprise customers. The Express Delivery Services segment provides express services that comprise sorting, line-haul and feeder transportation services to its franchisee service stations. The Freight Delivery Services segment provides freight services that comprise sorting, line-haul, and feeder transportation services mainly to its franchisees. The Store + Services segment deliveries the consumer goods to its convenience store membership customers. The Other Value-added Services segment principally relates to finance leasing services, cross-border logistic services and UCargo transportation services. Analysts are strong buy in the short term for this stock but holding anything longer than a month it’s a strong sell so be wary folks.
What does all that mean? Not a whole lot to us but if we can make money off it then let’s go!
It appears that with Biden’s chat with China’s leader, Xi Jinping , hopes of a truce are manipulating the stocks. If you didn’t already know, Russia’s Vladimir Putin, reached out to China for military aide in his quest to “liberate” Ukraine. Rumor has it that China is trying to create some separation between Russia’s incursion of Ukraine BUT they do remain very close allies in their bid to usurp the West. Shares of several large Chinese stocks traded on U.S. exchanges continued their ascent this week following positive news from Chinese regulators. In fact, Chinese stocks have had their best multiday rally in the 21st century this week.
