Over the past week, the China XD Plastics Company (NASDAQ:CXDC) has attracted a lot of attention from investors and the pattern continued on Thursday. Yesterday, the China XD Plastics stock clocked gains of 22% and that took its gains for the past week to as much as 85%.
While the gains are undeniably handsome, it should also be noted that there has been no news about the company at all that could have brought about such gains. While the rally in the stock may be entirely speculative in nature, it could be a good idea for investors to take a closer look at the company’s business.
The company is engaged in manufacturing, sale, research and development of modified plastics and conducts its operations along with a range of subsidiary companies. The plastics that are produced by the company are mainly used for the automotive industries in China and the United Arab Emirates.
Earlier on in May this year, the company had also received a notice from NASDAQ for not being compliant with the exchange’s rules about the timely filing of its financial results for the quarter that had ended on March 31, 2021. In light of the latest rally, investors could consider keeping an eye on any news about China XD Plastics.