<?xml version="1.0" encoding="UTF-8" standalone="yes"?><oembed><version><![CDATA[1.0]]></version><provider_name><![CDATA[Glenn Chan&#039;s Random Notes on Investing]]></provider_name><provider_url><![CDATA[https://glennchan.wordpress.com]]></provider_url><author_name><![CDATA[GlennC]]></author_name><author_url><![CDATA[https://glennchan.wordpress.com/author/glennchan/]]></author_url><title><![CDATA[CNIT&#8217;s market cap jumped to&nbsp;$81M]]></title><type><![CDATA[link]]></type><html><![CDATA[<p>For those of you interested in Chinese reverse mergers&#8230; CNIT&#8217;s share price jumped by around two-thirds today.</p>
<p>Back in <a href="https://glennchan.wordpress.com/2013/12/29/china-information-technology-cnit-a-case-of-multiple-personality-disorder/">2013</a> and <a href="https://glennchan.wordpress.com/2015/03/26/cnit-resolves-multiple-personality-disorder/">2015</a>, I wrote about the company.  In 2015, CNIT bought a company called Biznest.  <strong>Apparently they did not own Biznest already</strong>&#8230; despite CNIT email addresses showing up on Biznest&#8217;s domain registration and despite having the CNIT logo on Biznest&#8217;s website.</p>
<p><em>*Disclosure:  I am short CNIT.</em></p>
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