Stock Market Watch

Qiao Xing Universal Resources Inc. (XING) Soars after Releasing Pictures from its Newly Acquired Mine

by ·

Qiao Xing Universal Resources Inc. (NASDAQ: XING) shares are seeing a huge rally in mid-day trading. After opening at $1.88 in early trading today, Qiao Xing shares touched an intra-day high of $2.48 on above average volume of 17.28 million. The stock has a 52-week range of $1.36-$2.87. It has gained 34.44% in the last three trading sessions. Qiao Xing shares are now trading above their 50-day and 200-day moving averages.

Qiao Xing shares are rallying today after the company today posted some pictures taken from its newly acquired Xinyuan Lead-zinc-copper mine in Chifeng city of the Inner Mongolia. The company also said that it will launch a new website in January.

China-based Qiao Xing Universal Resources primarily focuses on several strategically important nonferrous metals such as molybdenum and copper. Last year, the company acquired a 100% stake in China Luxuriance jade Company Ltd.

Tags:

Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

You may also like...