ChinaCast Education (CAST) Falls After Negative Article
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The downside action see in ChinaCast Education Corporation (Nasdaq: CAST) over the past little bit is being attributed to a negative article at The Financial Investigator.
The article highlights "complex and baffling" business deals and "self-dealing."
The article states:
"ChinaCast has built up its business with a pair of complex and baffling deals that should raise red flags for any investor, especially because they make up about one-third of the company's $78 million in annual revenue. According to details buried in Chinese filings, ChinaCast appears to have had a major interest in two holding companies that owned colleges it later bought."
Shares of ChinaCast are down 6 percent to $6.01 in mid-day action.
Link to Article
The article highlights "complex and baffling" business deals and "self-dealing."
The article states:
"ChinaCast has built up its business with a pair of complex and baffling deals that should raise red flags for any investor, especially because they make up about one-third of the company's $78 million in annual revenue. According to details buried in Chinese filings, ChinaCast appears to have had a major interest in two holding companies that owned colleges it later bought."
Shares of ChinaCast are down 6 percent to $6.01 in mid-day action.
Link to Article
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