Wednesday, March 7, 2007
Tom Online (TOMO) Shares Halted
Chinatechnews.com confirms Tom online will go private. Shares of TOMO are halted today. This move certainly points to the dangers of investing in emerging market stocks. A variety of Chinese internet related stocks are lower today as well including BIDU, SINA, etc. This isn't on the level of China lifting its reserves ratios which sparked last week's Shanghai selloff, but shenanigans like this will put the Chinese market further out of favor of investors.
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Anyone out there have any idea what this means? I had just shorted this stock on 2/28/07, only to have this happen a couple days later. Now the stock is frozen and no idea what to expect. Noticed I went short on another chinese stock the same day may have to cover and bail on this soon if this tomo crap drags on much longer. thanks lee
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