SHANGHAI -- A roller coaster might best describe the share price movement of Anji Microelectronics Technology Shanghai which went public on China's STAR market -- Chinese President Xi Jinping's answer to the Nasdaq - in July.
The stock price opened at 50 times its earnings, briefly sextupled, then plunged about 40% from its peak the next day. Ten days later, it bounced again, skyrocketing 40% from its previous low before dropping again. It currently trades at around 155 yuan, about 30% lower than its Aug. 5 peak.
