Low float China stocks on the NASDAQ have been hot this week. Our subscribers caught the move earlier this week in KXIN before turning our attention to EVK stock.
For all those new to trading penny stocks, this is one of the best setups to find and one which we specialize in finding here at Insider Financial. It’s all about finding the low floater bidding higher in the pre-market and then jumping on board. The algorithms and the shorts getting squeezed do all the rest. Just sit back and ride the wave.
As you can see from the chart below, EVK stock opened at $2.59 and proceeded to run to $6.76 for potential gains of 161% in just 1 day!
Those that were alert and got in at the open, banked big profits. The key to understanding low floats is that they are short-term plays, good for only a day or swing trade. They go up and then come back down.
In this article, we discuss what’s happening with EVK stock and how we look for low float plays like EVK for our subscribers.
First up, here’s a little background info for those not familiar with EVK stock. Ever-Glory International Group, Inc., together with its subsidiaries, manufactures, supplies, and retails apparel in Mainland China, Hong Kong, Germany, the United Kingdom, Europe, Japan, and the United States.
It operates in two segments, Wholesale and Retail. The company primarily offers casual wear, outerwear, and sportswear.
Its products include coats, jackets, slacks, skirts, shirts, trousers, and jeans for women; vests, jackets, trousers, skiwear, shirts, coats, and jeans for men; and coats, vests, down jackets, trousers, knitwear, and jeans for children. The company offers its woman apparel under the La go go, Velwin, Sea To Sky, and idole brands.
It also engages in the import and export of apparel, fabric, and accessories. The company provides its products directly to consumers through retail stores, as well as online stores at Tmall, Dangdang mall, JD.com, VIP.com, etc.
As of December 31, 2019, it operated 1,101 stores, which included 131 flagship stores located in approximately 20 provinces in China. The company is based in Nanjing, China.
The first thing we do at Insider Financial is looking at what stocks are bidding higher in the pre-market. Then, we look at the size of the float. We are looking for low float plays like EVK stock. To do so, we check Finviz and to see what the float is.
As you can see from above, there are just 3.99 million shares in the float. These are the type of plays day traders and algorithms love.
There was no news on EVK stock. The last we heard from the company was in August when EVK stock reported Q2 earnings. Since then, there’s been no news, so the move was just driven by momentum players, algos, and shorts scrambling to cover.
EVK STOCK BOTTOM LINE
EVK stock was just a trade. It’s not a buy-and-hold play. Congratulations to all who caught the move. If you missed the move, don’t worry. There’s always low-float plays to trade, especially on the OTC Markets. These types of low float plays are what we at Insider Financial look for so our subscribers don’t have to.
As always, good luck to all (except the shorts)!
WHEN INSIDER FINANCIAL HAS A STOCK TIP, IT CAN PAY TO LISTEN. AFTER ALL, OUR FREE NEWSLETTER HAS FOUND MANY TRIPLE-DIGIT WINNERS FOR OUR SUBSCRIBERS. WE SPECIALIZE IN FINDING MOMENTUM BEFORE IT HAPPENS!
Disclosure: We have no position in NASDAQ:EVK or any of the securities mentioned. We wrote this article ourselves and it expresses our own opinions. We are not receiving compensation for it. We have no business relationship with any company whose stock is mentioned in this article. Insider Financial is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This article is not a solicitation or recommendation to buy, sell, or hold securities. This article is meant for informational and educational purposes only and does not provide investment advice.