Things that make you go hmmm…
No, this isn’t an excuse to link to a classic C&C Music Factory joint. Rather, it’s to call your attention to this Global Gains tweet from last week:
What is going on at $CFSG? +10% yesterday; +4% today. Odd given the market is otherwise very skeptical of China.
We found out today that was going on is that China Fire was closing a $92mm deal with Wuhan Iron & Steel group to retrofit all of that company’s existing plants with code-compliant fire safety equipment. This more than doubled China Fire’s backlog and led the company to issue extremely strong 2010 guidance.
The stock is now up almost 25% on the news, making this a very nice day for whomever was aggressively buying the shares last week. Given that China Fire already has a credibility gap with the market, it would be nice if their stock -- for once -- didn't move significantly in advance of big news. But so it goes.