China HGS Real Estate Inc. is a residential property developer in Hanzhong, China. The company’s real estate properties include multi-layer, sub-high-rise, and high-rise apartment buildings.
On Wednesday, 31st October 2012, HGSH opened at $0.43 and creeped all the way up to a closing price of $1.1 on volume of around 200,000 (less than 0.5% of HGSH’s outstanding shares of over 45M). For a Nasdaq-listed stock that kind of action is peculiar, but the real action came in the next two trading days, when we saw a huge spike in volume. On Friday, HGSH broke $3 before fading the rest of the day and closing at $2.25, still up over 400% from before Wednesday.
On both Thursday and Friday, HGSH traded over 1,000,000 shares. The stock barely traded at all for months before this, so what is the cause of this huge spike in price and volume? Currently no development in news and no information can be found online regarding this.
StockBaller (Seeking Alpha): What On Earth Is Going On With China HGS Real Estate?, 8 Nov 2012
China HGS Real Estate: Annual Report, 12 Dec 2014