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Everyone was focused on LinkedIn today, and talking about IPOs and bubbles, but some recent China stocks that nobody talks about got destroyed today.Country Style Cooking (CCSC) got demolished today, losing 30%, and falling to a brand new low.
The collapse came after earnings that obviously were hugely disappointing to investors.
Another huge loser was NetQin Mobile (NQ) which has just been public for a couple months, and is already half of its 52-week high. They’re a maker of consumer internet mobile stuff.
Bottom line. Investors continue to crush mediocre companies they don’t like. In a true bubble, you’d expect a lot less discernment.