JADE – LJ International (NASDAQ) – (Closing Price of Friday: 6/15/08 – $3.50)
LJ International is a company I have followed for a few years and I have written about the company a couple of times on my website. I recommended the company as a short recommendation for a 17% gain last year and I also recommended staying away from the company a few months after I gave my cover recommendation.
In retrospect, my last post to avoid the company because of credibility issues was actually a bad call because I knew speculators were going to bid up the stock price in anticipation of the company releasing earnings. After I wrote my last post on LJ International the stock price more than doubled in just a few weeks. However, the company never reported earnings and the stock price has been meandering ever since. (more…)