ChinaCache International IPO Pops 100%: Small Investors Left Out Again
ChinaCache Internaitonal (CCIH) hasn't gotten alot of attention on the IPO circuit due to its history of losses. Ironically though this mostly ignored IPO priced above the expected $10-12 range Thursday night at $13.90 showing significant demand. Not to mention they upped the shares by roughly 10% as well. On Friday the stock soared some 100% on the opening and now trades at $28 around noon time after reaching a high of $30.70. Whats unsettling about the IPO system is the lack of access to these IPOs by the small investors. CCIH sellers should not have been stuck with only receiving $13.9 with so much demand. Not to mention that modern technology fully would allow the market to give all investors access to IPOs. It's just not a level playing field for a big hedge fund or mutual fund to have made a 100% on the opening just because they are large. Guarantee plenty of investors including Stone Fox would've paid up to $15, 16, 17 or more to get this IPO at the opening. Its ti...