Chinese ETFs and ADRs Jump; Daqo New Soars 11%; Regencell Bioscience Surges 7%; JinkoSolar, YINN up 3%; Alibaba up 2%
Chinese ETFs and ADRs jumped in premarket trading on Tuesday.
Daqo New rose 11%; Regencell Bioscience rose 7%; JinkoSolar, YINN rose 3%; Alibaba rose 2%; JD.com, Li Auto rose 1%.
Shares of Regencell Bioscience Limited fell 20% on Monday following the company's unusual stock split last month.
Regencell, a Hong Kong-based firm that uses traditional Chinese medicine to treat Attention Deficit Hyperactivity Disorder (ADHD) and Autism Spectrum Disorder (ASD), announced the 38-to-1 stock split June 2, and it was distributed to investors on June 13. In the following session, shares quadrupled. They peaked the following day, then plunged to a six-week low last Wednesday before the big jump the following session.
Other than the stock split, it's unclear what has been driving the stock price, since in its last financial report filed last October, Regencell noted it had lost money in each of the last three years.1
Shares of Regencell Bioscience Holdings are up some 14,000% this year.
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