LGFTY on the rebound?
I am going to keep this one quick roachitoes because I think this one has some rebound potential.
LGFTY has plummeted from about $18 a share down to below a dollar a share as of today. It has hit an intraday low of .451 but has slowly been rising throughout the early morning. This signals to the roachman that buyers are jumping back on board after a catastrophic sell off in the stock over the past two days.
So what exactly is LGFTY you ask?
LGFTY is a leading software development and solutions provider targeting the rapidly growing financial services industry in China. We develop and deliver a comprehensive range of software applications and solutions with a focus on meeting the increasing IT needs of financial services institutions in China.
LGFTY isn’t exactly a company to be trifled with, seeing as how the American Banker newspaper and Financial Insights, an IDC company, have named Longtop the highest ranked Chinese financial technology provider in the worldwide 2009 Fintech 100 list. Furthermore, independent research firm IDC has named Longtop the No.1 market share leader in China’s Banking IT solution market and the No.2 market share leader in China’s Insurance IT solution market in calendar years 2008 and 2009.
So with all this in mind, why are shares so low right now? I think the people who jumped onto the bandwagon when it hit 45 cents a share had the right idea and the shares aren’t really showing any signs of slowing down right now. In my opinion, it seems like the roachman is going to take some steps into pursuing a small position in LGFTY. Do your DD and join me if you wish.
Disclosure: This corporate profile is provided for information purposes only and should not be used as the basis for any investment decision. We are neither licensed nor qualified to provide investment advice. We were not paid, nor do we hold a position in this stock. We reserve the right to buy or sell LGFTY at any time after this post.
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