Yesterday's Hot IPO Sino-Global Shipping America (SINO) Jumps Higher
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Yesterday's IPO for Sino-Global Shipping America, Ltd. (Nasdaq: SINO) is seeing continued momentum today. Shares, which priced at $7.75, closed at $17.50 on its debut yesterday and is up another 30% today.
Volume is still relatively light at about 1 million shares, suggesting it is still undiscovered, but the low 1,229,032 share float makes trading volatile. Yesterday, the stock traded just 875K shares.
Registered in the United States in 2001 and operating in Mainland China, Sino-Global is a leading, non-state-owned provider of high-quality shipping services. With local branches in five of China's 76 ports and contractual arrangements in all those where it does not have branch offices, Sino-Global is able to offer efficient, high-quality services to shipping companies entering Chinese ports.
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