By Tim - http://stockstobuy.org
China Infrastructure Investment Corp. (CIIC) stock is hitting a new 52 week high this morning and was one of my September penny stocks to watch.
China Infrastructure Investment Corp. (CIIC) is currently breaking out near $1.00 this morning on light volume. If CIIC breaks $1.00, I feel the trading volume could pick up and we could end up seeing a spike.
As for the long term, the downside I see is the fact that this China company is Incorporated in Nevada, a hot bed for scam companies. While there is no indication the company is committing fraud, we have to be wary due to all the chinese stock scams in 2011. Something to keep in the back of your mind when buying CIIC.
The board of directors of China Infrastructure Investment Corporation (NASDAQ:CIIC) held a meeting today (August 31, 2011) to review the evaluation of the pending new asset proposed by company's majority shareholder as partial repayment for the related party loans and to review the write-off of related party loans process. The board also reviewed the revised internal control policies and procedures proposed to the board by the Company's management.
CIIC, incorporated in Nevada, USA and headquartered in Henan Province, China, focuses on investing, constructing, operating and managing infrastructure development projects in China. The Company currently operates the Pinglin Expressway, a 106-kilometer (66 miles) dual carriageway four-lane toll road in the central province of Henan. The Expressway is an important passage from the northwest region to the southeast coastal region of China.
http://daytradingstockblog.blogspot.com
