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4 Speculative Chinese Stocks That Tanked Far Worse Than Shanghai Did Monday

Monday’s global equity market trading day was nothing short of having a sudden irritable bowel syndrome attack. That was true for the U.S. and Europe and other emerging markets, but Shanghai’s SSE composite took it the worst on Monday with a drop of 8.5% to 3,209. The fallout was also atrocious in almost anything tied to China – whether they were tied to Shanghai, Hong Kong, or elsewhere.

24/7 Wall St. tracked four ADSs from China which trade in the U.S. that saw their shares close down 20% or more on the day. To put this in perspective on top of an 8.5% drop in Shanghai, the 20% drop was against drops of -4.6% in Japan’s Nikkei 225, a drop of -5.2% in Hong Kong’s Hang Seng, a drop of -4.5% in the UK’s FTSE, a drop of -4.7% in Germany’s DAX, and -3.6% in the Dow Jones Industrial Average.

500.com Limited (NYSE: WBAI) provides online sports lottery services in China. Its ADSs fell 26%, or $4.74, down to $13.49 on 3.07 million shares. It has a 52-week range $7.31 to $37.50 and average volume of 1.44 million shares. The stock still has a market cap of $475 million.

China Finance Online Co., Ltd. (NASDAQ: JRJC) sells online financial services via trading and information services in China, which means it is at ground zero of any meltdown in China’s financial markets. It closed down 23.5%, or $0.91, at $2.96 on over 594,000 shares. China Finance has a 52-week range of $2.96 to $11.48. Its market cap is only $65 million.

Sky-Mobi Limited (NASDAQ: MOBI), which operates a mobile application platform embedded on mobile phones in China, fell 22%, or $0.75, to $2.66. This $74 million company now has a 52-week range of $2.21 to $10.56. The company had earnings on Monday morning, showing that revenue was RMB164.1 million ($26.5 million) in the second quarter versus RMB170.2 million in the same period last year.

Synutra International Inc. (NASDAQ: SYUT) which produces and distributes dairy based nutritional products under the Shengyuan and Synutra brands in China, fell by 18.9%, or $1.05, to $4.50 on only 224,000 shares. This has a 52-week range of $4.27 to $8.15 and now has a $258 million market cap. This stock was just at $6.50 early last week after posting income of $7.6 million.

By Jon C. Ogg


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