CXDC Stock: Why The Price Surged Today

By Amit Chowdhry ● Oct 27, 2021
  • The stock price of China XD Plastics Company Ltd (NASDAQ: CXDC) increased by 58.97% today. This is why it happened. 

The stock price of China XD Plastics Company Ltd (NASDAQ: CXDC) increased by 58.97% today. There are no company-specific reports or filings for why the company stock price increased so it appears there are external factors at play. 

In this case, it appears that there was a coordinated short squeeze by investors who are active on social media platforms like Discord, Reddit, StockTwits, Twitter, etc. CXDC has been squeeze multiple times over the past month or so.

Last month, China XD Plastics Company had announced that it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market indicating that Nasdaq’s staff has determined to deny the company’s request for continued listing on Nasdaq. China XD Plastics Company said it was intending to request a hearing before a Nasdaq Hearings Panel no later than September 14, 2021 to seek an exception period in which to complete its filings and thereby regain compliance with listing standards.

Here are some recent tweets about CXDC:

 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.