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Screenshot of a breaking news alert e-mail from Q2 2017
Hong Kong based retail forex broker KVB Kunlun Financial Group Ltd (HKG:8077) saw its shares skyrocket more than 13% on Monday after the company provided an upbeat update on its Q4 and full year 2014 financials.
As we reported yesterday, without giving specifics KVB stated that it will see a nice increase in Revenues for the second half of 2014, as well as a return to profitability from losses incurred during the first half of 2014. Full 2014 results for KVB should be out by the end of March.
It seems to us that KVB is trading under its ‘own power’ now, with its shares rising not just because it might be bought by a still-unnamed acquirer, who apparently is still in the midst of due diligence on the company. If the acquirer goes away and decides to pass it probably wouldn’t be a good thing for KVB’s shares. But we don’t think any more that it would be a disaster situation. Clearly KVB’s rising results are now driving the rise in its share price.