China's Biggest Memory Chip Stock Is Almost as Good as Micron
Micron's fat profit margin is CXMT's opportunity -- and China is coming for it.
Overview
ChangXin Memory Technologies' IPO shook the stock market to its core.
It was almost exactly one month ago that CXMT debuted on the Shanghai stock exchange, raising $8.6 billion to fund production expansion and reaching a $487 billion market capitalization after its stock ran up 466% in a single day. Investors in Micron (NASDAQ: MU) stock, meanwhile, had a very different reaction to CXMT's arrival. Micron stock dropped 9% on CXMT's IPO day. (And fell another 10% the next day.)
Details
And now you know why.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.