Price/Volume Spike: Gushan Environmental Energy (GU)

Posted in General 
July 3rd, 2008

Gushan Environmental Energy Limited (NYSE: GU) is looking like a worse post-IPO by the day.  We are seeing a major drop  of over 20% at $9.62 in heavy volume.  As of 10:02 we have seen some 550,000 shares trade hands, and average daily volume is only about 1.1 million shares.  Despite today being a half trading day the volume should easily go over a normal day’s trading volume.  This just came public at the end of 2007 and shares have been cut in almost half from their post-IPO highs.  There has so far been no corresponding activity in its stock options trading so far this morning.  Gushan is the largest bio-diesel and bio-diesel by-products in the People’s Republic of China.

Jon C. Ogg
July 3, 2008

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