re - ATS: FINALLY got recognized! (Once again). Up 50% today due to the China mania .... which is now officially bigger than the oil mania, and intertwined with it.
Looks like ATS was up due to this:
Sector Glance: Chinese Mobile Content Up
Thursday September 27, 4:56 pm ET
By Rachel Metz, AP Business Writer
Chinese Mobile Content Providers' Shares Soar on Speculation Regarding Telecom Restructuring
NEW YORK (AP) -- Shares of several Chinese mobile content providers soared Thursday, echoing strong stock performance in the broader Chinese and Hong Kong telecommunications market.
American Depositary Shares of Kongzhong Corp. gained as much as 72.1 percent during the session, while volume soared more than 135 times its normal trade.
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Competitor Linktone Ltd.'s ADS added as much 44.3 percent on more than 20 times normal trading volume. And Hurray Holding Co. Ltd.'s ADS rose as much as 30.2 percent while volume soared to more than 13 times regular trade.
Investors hope restructuring in China's mainland telecommunications industry will widen access to the mobile phone market, which could benefit some companies.
In a phone interview Thursday, WR Hambrecht analyst James Lee said speculation has been brewing that the government will restructure the industry and issue licenses that allow wireline carriers to start offering wireless service.
Investors surmise that newcomers to the wireless space -- which could include China Telecom Corp. and China Netcom Corp. -- will turn to companies like Linktone, Hurray and Kongzhong to provide cell phone content like games and ringtones to their customers, Lee said.
"This is a quicker way of doing it than developing it in-house," said Lee, who has a "Hold" rating for all three mobile content providers.
Lee said it's too early to tell what will happen, as he doesn't think the government will issue licenses until after the 2008 Beijing Olympics, which will be in August.
He noted that new wireless service providers could also opt to develop the content internally as well.
Here's how the key Chinese mobile content providers fared in trading Thursday:
Linktone Ltd., American Depositary Shares gained $80 cents, or 26.2 percent, to close at $3.85.
Kongzhong Corp., ADS rose $3.55, or 71.3 percent, to $8.53.
Hurray Holding Co. Ltd., ADS added $1.18, or 25.4 percent, to $5.82. |
