posted by The Traveller on Sunday, December 12, 2010
China MediaExpress (CCME) is currently trading at $15.52, up 46.41% for the year and down 30.41% from its November 8 high at $22.30. The Trading China Tracker Score is 12 (Strong Buy).
We are re-adding China MediaExpress to the Trading China Model Portfolio at Friday's close. We have previously sold this stock on November 6th at $19.61 for a 131.25% gain. CCME has a small float of just 11.53 million shares, and as of November 30 the recorded short interest was a staggering 41% of the float.
On December 9th, CCME CFO Jacky Lam bought 100,000 shares at $15. This is significant news that has not yet been digested properly by the market. A major vote of confidence by the one insider that should have the best idea about CCME's future performance. We are setting a price target of $25 (6-12 months).