For those of you interested in Chinese reverse mergers… CNIT’s share price jumped by around two-thirds today.
Back in 2013 and 2015, I wrote about the company. In 2015, CNIT bought a company called Biznest. Apparently they did not own Biznest already… despite CNIT email addresses showing up on Biznest’s domain registration and despite having the CNIT logo on Biznest’s website.
*Disclosure: I am short CNIT.