Investors in Nasdaq gained huge sums in one day, after the public offering of the shares of a small holding company whose business is all in China, and was founded in Nevada, America, as its stock rose more than 130 times.
According to Arabiya Net, this means that investing 1,000 dollars in the shares of this company through the subscription will enable its holder to achieve a profit of 130,000 dollars in one session.
Addentax Group Corp. was on a date with the first appearance before investors in US stock exchanges during yesterday's trading, whose subsidiaries conduct the majority of its operations in China, as its shares rose by as much as 13031% on Wednesday on the Nasdaq Stock Exchange.
The stock stalled more than 25 times due to volatility and reached $656.54 after its listing was priced at $5 per share.
The massive rise is the latest in a string of Hong Kong and China companies, including AMTD Digital Inc. and Magic Empire Global Ltd., which saw significant gains after its commercial debut in the United States.
Adintax offers a full service business focused on apparel manufacturing, logistics, property management, sub-leasing and epidemic prevention supplies.
Its apparel manufacturing business consists primarily of sales to a wholesaler located in China. The logistics business consists of courier and delivery services covering 79 cities in 7 provinces and 2 municipalities in China.
