China Finance Online (JRJC) Jumps 15% on Positive Outlook

May 16, 2008 11:46 AM EDT

China Finance Online (Nasdaq: JRJC) shares jump 15% in early trading after guiding higher for Q1. JRJC now expects net revenues for the first quarter of 2008 to be in the range of US$10.5 to US$10.8 million, up from previous guidance range of US$10.0 to US$10.5 million.

Shares have been volatile throughout the past year, rising up to over $43 in Oct 2007, but then slumping down to around $12 in mid-January (2008). But, shares may have found a new range in the $20-30, because the 52-wk low is $6.60 (and shares had traded under $10 for all of 2005-06).

Investors and analysts feel that the growth in China isn't going to slow down, especially with so many people moving from small villages into bigger cities and becoming middle-class citizens. Establishing careers, homes and lifestyles will play right into the hands of China Finance, which engages in selling online financial services analyzing of financial and listed company information.[SM]

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