Financial Company Is Mum on Why Stock Jumped 20% Monday

by Christopher Freeburn | May 14, 2013 11:59 am

ChinaFlag 300x225 Financial Company Is Mum on Why Stock Jumped 20% Monday[1]Chinese wealth management firm Noah Holdings (NYSE:NOAH[2]) issued a statement on Tuesday[3] saying that it had been contacted by the New York Stock Exchange over “unusual market activity” involving its shares.

On Monday, Noah shares jumped more than 20%. That followed a 8% rise on Friday. The company indicated that it would not speculate about the causes of any unusual market activity or comment on rumors due to existing policies.

Noah sells a range of fixed income products, securities investment funds, mutual funds, private equity funds to wealthy clients in China.

Shares of Noah Holdings fell more than 2% in Tuesday trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/04/ChinaFlag.jpg
  2. NOAH: http://studio-5.financialcontent.com/investplace/quote?Symbol=NOAH
  3. issued a statement on Tuesday: http://www.nasdaq.com/article/noah-holdings-limited-states-that-its-policy-is-not-to-comment-on-unusual-market-activity-or-rumors-20130514-00242

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