China Company That Soared 4,500% Is Puzzled Again by New Surge
- Nasdaq halts trading in Wins Finance as stock keeps doubling
- Spokesman says he doesn’t know what’s driving up the shares
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Wins Finance Holdings Inc., the Chinese loan guarantor that saw its stock jump 4,500 percent as 2017 began before erasing those gains, said it doesn’t know why it’s suddenly skyrocketing again.
The stock climbed as much as 184 percent to $230 on Wednesday -- up from about $20 at the start of this month -- before Nasdaq halted trading of the shares. In a statement, the exchange said trading won’t resume until the company has “fully satisfied Nasdaq’s request for additional information.” A spokeswoman for the exchange declined to comment further.