Good morning!
That's right, we were going to remain cautious into Chinese New Year because China may be forestalling a lot of bad economic news ahead of their most vital holiday. Not going to help with anything.
Behold the awesome rally!
VIX is calming down, that's more important.
Told you so on /NG:
And that's the old contract, Feb hit $4.39 from $3.90 yesterday.
Dollar is back from vacation:
Oh no, don't list my company in China! <end sarcastic font>
- With shares down ~30% from recent highs late last year, JinkoSolar (NYSE:JKS) is up 8% this morning after the company listed its principal operating subsidiary, Jiangxi Jinko, on the Shanghai Stock Exchange.
- Shares of the subsidiary traded up 111% on the day to close at 10.55 RMB; post IPO Jinko retains 58% of the shares of its subsidiary.
- With 10.0b shares outstanding, and with shares trading at 10.55 RMB, the market cap of the subsidiary is ~105b RMB or ~16b USD -- JinkoSolar retaining 58% of the subsidiary owns ~$9.3b of stock in Jiangxi Jinko.
- Jinko's own market cap is ~2.0b, indicating that the Company owns stock in Jiangxi Jinko worth ~4x more than JinkoSolar's current market cap.
This is interesting. North America is down but Europe blasted higher:
PTON -9.16%Jan. 26, 2022 10:03 AM ET
- State Street Investor Confidence Index: 89.3 in January vs. 84.8 in December (revised from 85.6).
- North America ICI to 93.6, down 1.4 points.
- Asian ICI to 97.1, up 1.7 points.
- European ICI to 85.3, up 18.2 points.
- “Investors continued to shy away from risk assets in January as the global ICI continued to hover close to its weakest reading in over a year,” says Rajeev Bhargava, head of Investor Behavior Research, State Street Associates.
