Well right off the bat, its clearly on the business model. If you dig a bit deeper you’ll see Sino-Global filed an initial public offering of 1.2 million shares priced at $7.75 a share. Anderson & Strudwick acted as the lead placement agent for the offering

If you go back Anderson & Strudwick Closes $6.8 Million IPO for eFuture Information Technology Inc. of Beijing, China. You can find the artcile HERE. Their website can be found here: http://www.andersonstrudwick.com/ It’s worth watching because at the time EFUT was in a hot sector and the float was soaked up by more than likely a bunch of hedge funds who decided to squeeze everyone for over 500%. Well, previously covered DRYS which we saw breaking out to more highs most recently is ‘hot’ and some of the investors may find this as a cheaper alternative buy or traders may find it as an alternative sympathy for the following three reasons:

1) Anderson & Strudwick connection
2) Momentum coming off of DRYS
3) Low flight (besides the obvious reasoning behind why a low float is important or attractive -  I think its  self explanatory with the most recent rocket ships MXC and PDO as to what can happen when a low float stock squeezes everything in sight.

Hey, it may do nothing but its still worth putting it on your radar screen especially the multi dollar swings traders nailed in chat today.

EFUT

SINO

DRYS

Tags: DRYS, EFUT, MXC, PDO, SINO

This entry was posted on Wednesday, May 21st, 2008 at 9:54 pm and is filed under NASDAQ, Plays. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.