If you are currently looking for some China based stocks then it might be a good time to take a look into China Infrastructure Construction Corp (OTCMKTS:CHNC) stock. It has moved strongly over the course of the past week and has managed clock gains of as much as 14%.
On Monday, CHNC stock ended flat at $0.0024 with more than 11.38 million shares, compared to its average Monday of 11.67 million shares. The stock moved within a range of $0.0023 – 0.0025 after opening trading at $0.0024.
CHNC Announces Return of Half a Billion Shares
The company had come into focus among investors yesterday as well after it announced that its Chief Executive Officer Dante Picazo had decided to hand over as many as 500,000,000 shares in China Infrastructure Construction back to the company. It was a major new announcement and may have come as a source of considerable optimism as well.
It was also announced that these shares that have been handed back are going to be handed over to those directors of the company’s board who bring in outstanding scientific and business acumen to the table. In addition to that, the shares could also be used to benefit employees. The development could eventually lead to the creation of significant value for the company as well as its shareholders. It may be a good idea to keep an eye on the China Infrastructure Construction stock at this point in time.
CHNC stock is trading above the 20-Day and 50-Day Moving averages of $0.0021 and $0.0020 respectively. However, the stock is trading below the 200-Day moving average of $0.0025.