My previous stock screener highlighted this stock to me when I started - the cause of its fall in early March caught my eye.
"The media watchdog has suspended the license of a film distributor that inflated the mainland box office figures of the Hong Kong martial-arts movie Ip Man 3 by holding fake screenings. The scam was apparently intended to create a buzz that would then attract real moviegoers. The film, the third in a franchise starring Donnie Yen and former professional boxer Mike Tyson, opened on the mainland on March 4.
The media watchdog launched a probe on March 7 after moviegoers said on social media platform Sina Weibo that screenings were scheduled every 10 minutes, from 00:56 to 2:05, at a cinema in Wuhan, in the central province of Hubei. The tickets cost 203 yuan, four times the regular price. Beijing Max Screen held more than 7,600 “ghost screenings” and bought 56 million yuan worth of tickets, the State Administration of Press, Publications, Radio, Film and Television said on March 19. The government said it has suspended Beijing Max Screen from releasing movies for a month.
Hong Kong-listed Shifang Holding Ltd. acquired the rights to 55 percent of the movie’s earnings on the mainland, a filing with the stock exchange in February said. Shi Jianxiang, the head of Max Screen, was appointed chairman of Shifang soon after that deal.
Shifang’s stock price closed at 3.6 yuan, a 52-week high, when Ip Man 3 opened. It dropped by more than 60 percent after the government said it was investigating whether ticket sales figures were manipulated."
Source: http://english.caixin.com/2016-03-21/100922862.html
Addendum on 29 March:
Considering the OBV, it seems that this stock is on a long downward trajectory. Therefore, it has been dropped from my list of tracked stocks.
Addendum on 29 March:
Considering the OBV, it seems that this stock is on a long downward trajectory. Therefore, it has been dropped from my list of tracked stocks.
