Exchange Media Corporation (EXMD.PK) has recently announced about the significant growth in the Mobile Value added services in China. As stated in the latest report, “Recent Mobile Wireless industry reports show an annual growth of 36.9% on an annualized basis, generating 36.91 billion RMB ($1USD = 6.82 RMB) in the first quarter of 2009.”
However, it is hard to find out whether this is realistic. The company hasn’t been reporting to the SEC since 2005. Besides, several days ago EXMD has paid $10,000 to OTC Picks, while Stock Hideout received the same money earlier.
All in all, the stock price increased by almost 40% after the trade yesterday. I am not sure which trigger was more probable for the share to jump up: the stock promotion, or the positive news on the growth?
