by Christopher Freeburn | May 14, 2013 11:59 am
Chinese wealth management firm Noah Holdings (NYSE:NOAH) issued a statement on Tuesday 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.
Source URL: http://investorplace.com/2013/05/financial-company-is-mum-on-why-stock-jumped-20-monday/
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