UCBH has been victim of naked shorting. The squeeze started today up 20%. As i mentioned in my other thread, UCBH has been mis-characterized as a California Regional, and as such presents an unusual opportunity. See my other UCBH thread for details. Insiders have been buying on the open market like there is no tomorrow. First clue of an impending squeeze was the day mkt down 300 pts but UCBH was up a little. Today the squeeze started for real.
And the squeeze continues! This one is swimming up stream folks. In twenty years they have the potential to be the number one bank for US-China commerce, both ways. They already have unique capability that no other US bank has. It's going to 4.20. That's where the 135 million 8.5% convertible converts. Then a stall and pullback as it goes above 4.20 and share holder equity is diluted. Buy now with a sell order at 4.20. Or buy and hold for the long run. Either way you are in the cat bird seat. (My most recent invlovement was to sell Dec 2.50 puts @ 0.50) Take a look at the daily chart. P.S. The 2nd quarter conference call is Jul 25th at 10 am Central time. (Full disclosure: I own this stock. Enough to sink the Titanic twice again.)