China HGS Real Estate Inc (NASDAQ: HGSH) is rocketing in the market this morning, but if you’re digging for press releases or SEC filings, you’re not going to find anything. The company hasn’t issued any news, leading many to wonder just what’s going on here.
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Here’s Why HGSH Stock Is Flying
As mentioned above, China HGS Real Estate is screaming for the top in the market this morning, but the company hasn’t issued any news. Nonetheless, when a stock climbs by more than 100%, there’s always a reason. So, what’s the reason here?
Well, there are a few things coming together that seem to be the catalyst for the HGSH stock run:
Chinese Stocks Are Hot
First and foremost, HGSH is a Chinese company, which is a good thing i and of itself at the moment. Don’t forget, Joe Biden recently won the United States Presidential Election. When he takes office, he will likely move to remedy the tensions between the United States and China in the Trump Trade War.
As tensions die between the United States and China, the Chinese economy is likely to benefit. As a result, investors have been looking to Chinese stocks for opportunity, and with such incredible runs across various tickers in the region, it only makes sense that investors and traders alike want more.
As a result, HGSH seems to be benefitting, both from Joe Biden’s win of the United States Presidential Election and enjoying a sympathy run as traders see an opportunity.
Low Float Expands Opportunity
Stock market traders often look for opportunities with low floats. The lower the public float on the stock, the more the price moves when large volumes hit.
China HGS Real Estate trades with a pretty tiny float. In fact, there are just over 22 million shares in the float.
While low float stocks are considered to be stocks with floats under 20 million shares, HGSH is very close to that figure, making it more appealing, especially for day traders.
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The Bottom Line
The bottom line here is simple. Investors are looking for opportunities in Chinese stocks, and HGSH stock seems to be the most recent hot topic. While there has been no fundamental catalyst for the run, the excitement surrounding the Chinese market and trader sympathy, coupled with a pretty low float, seems to be driving the stock higher.
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