Longtop Financial LGFTY Hot Stock
There is no question China will be the economic super power of the future. With its huge population, readily available natural resources and a developing infrastructure, the sleeping giant of China may one-day lead the world in economic superiority. This may happen sooner rather than later, provided the recent dire debt troubles of the leading western economies.
This rapid growth demands a financial infrastructure for the nation. Our focus stock today specializes in software for the Chinese financial sector. Headquartered in Beijing, Longtop Financial's (OTC: LGFTY) software solutions cover the major categories of information technology requirements for financial institutions in China. This includes channel-related solutions, business-related solutions, management-related solutions and other value-added solutions. In January 2010, it achieved Capability Maturity Model Integration (CMMI) Level 5 Certification for software development, the highest rating possible under the globally recognized Software Engineering Institute (SEI) standard.
The company has spiked higher today by more than 130% on nearly 10 million shares of volume. It's one of the top trading stocks on the OTC market this session, though there is very limited news to explain the surge. Microcap traders would be wise to watch this one closely!