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EGRNY China Evergrande Group 8.69 -1.31 -13.10%

edited September 24 in Fund Discussions
Any investors buying this troubled China stock ? 13% one day drop, what's to worry about !?
As the saying goes , "buy low - sell high ! (52 Week Range $7.25 - $67.99 )
Enjoy the Dip , Derf

Comments

  • edited September 24
    Did you mean EGRNF ?

    For every seller there’s a buyer. So, someone’s buying. The sharp decline alone wouldn’t deter me from investing a small percentage of assets in it if there were other compelling reasons to buy. IMHO buying and selling this one is best left to the professionals who might hedge the risk using derivatives.

    Every market collapse needs a “whipping boy” whereon blame may be properly placed after the fact. Sometimes it’s unbridled speculators, sometimes unethical corporate insiders. There’s also illegal trading, over-reactive Fed tightening, lax governmental oversight, ad infinitum. Looks like EGRNF might have that ultimate fate. And what better place to disassociate ourselves from years of speculative excess than China?
  • @hank : Both EGRNF & EGRNF lead to the same China group.
    CHINA EVERGRANDE GROUP (EGRNY) Stock Price, News, Quote
    CHINA EVERGRANDE GROUP (EGRNF) Stock Price, News, Quote





  • "Chinese property company Evergrande is having trouble servicing its $300 billion debt. A recent twist is that it may pay installments due on its yuan-denominated debt (held by Chinese retail & institutional clients) preferentially (or, first) over those for dollar-denominated debt (held by foreigners). Evergrande bonds are trading at huge discounts to their par values & its stock has crashed."
    Removed from Armchairinvesting
  • What is removed? Why?
  • Yes, @Derf - I see that. Here’s one discussion I removed from another board that tries to shed light on the two different symbols.

    “EGRNF looks to be a foreign ordinary. It doesn't appear to be an ADR - these are known as F shares that trade OTC.” LINK

    Well … The F shares seem appropriately named.
  • Thanks for the comeback @hank
  • The Sequoia etf is probably buying it as we speak !
  • Construction business in China is like a house of card. Will stay clear of them. PRC will come in and convert is to government-owned business.
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