Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Shares in a Chinese <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech">tech</keyword> company soared 924% during their trading debut on Thursday, <a href="https://www.bloomberg.com/news/articles/2020-07-09/chinese-ipo-s-876-first-day-gain-shows-growing-mania-for-stocks?sref=Hny5JH2p?sref=Hny5JH2p">according to Bloomberg</a>.</li><li><keyword id="9545155" type="UNKNOWN" weightage="60" keywordseo="quantumctek">QuantumCTek</keyword>'s stock price rose more than tenfold, to about 370 yuan ($53), boosting its market capitalization to north of $4.2 billion.</li><li>The stock broke Shanghai's Star market's record for a first-day gain of 614%, set on Tuesday.</li><li>QuantumCTek's market cap is more than 110 times its sales last year and 600 times its net income.</li><li><a href="https://www.businessinsider.com/international?r=US&amp;IR=TIR=T">Visit Business Insider's homepage for more stories</a>.</li></ul>A Chinese technology stock skyrocketed 924% during its first day of trading on Thursday, <a href="https://www.bloomberg.com/news/articles/2020-07-09/chinese-ipo-s-876-first-day-gain-shows-growing-mania-for-stocks?sref=Hny5JH2p?sref=Hny5JH2p">according to Bloomberg</a>.QuantumCTek issued its shares at 36.18 yuan ($5.18) each, and they soared more than tenfold to close north of 370 yuan. The stunning increase boosted the group's market capitalization from the yuan equivalent of $414 million to over $4.2 billion.The maker of network-security and communication systems listed its shares on Shanghai's Star market, which imposes no limits on price moves during a stock's first five days of trading, Bloomberg said.QuantumCTek broke the market's record for a first-day gain; Tinavi Medical Technologies had set the record on Tuesday with a 614% rise. Geovis Technology surged 438% during its Wednesday debut as well.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-market-beating-returns-coronavirus-spikes-evercore-2020-7">Buy these 15 stocks that are shielded from COVID-19 fallout and primed to beat the market even as virus cases spike, Evercore says</a>The Star market has added more than $1 trillion of value since June 30, Bloomberg said, underscoring the breathless hype around Chinese tech IPOs.QuantumCTek earned the equivalent of $37 million in revenue in 2019 and $7 million in net income, <a href="https://www.chinaknowledge.com/News/DetailNews/89884/">according to China Knowledge</a>.Investors are therefore valuing it at more than 110 times sales and 600 times net income, based on its current market cap.Read more: <a href="https://www.businessinsider.com/real-estate-investing-strategy-cross-collateralization-guide-from-former-marine-2020-7" target="_blank" rel="noopener">174 units with no prior experience: Here's the creative real-estate investing strategy a former Marine is using to generate 'crazy' cash flow</a>

A Chinese tech stock skyrocketed 924% on its trading debut, breaking the record for a first-day gain

Here's what you need to know before <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> open.1. <a href="https://markets.businessinsider.com/news/stocks/chinese-tech-stock-quantumctek-soars-record-breaking-924-percent-ipo-2020-7-1029379555#">Chinese tech stock QuantumCTek skyrocketed 924% on its trading debut, breaking the record for a first-day gain. </a>QuantumCTek issued its shares at 36.18 yuan ($5.18) each, and they soared more than tenfold to close north of 370 yuan. The stunning increase boosted the group's market capitalization from the yuan equivalent of $414 million to over $4.2 billion.2. <a href="https://markets.businessinsider.com/news/stocks/covid-19-a-once-in-lifetime-opportunity-investors-marc-lasry-2020-7-1029379649#">Billionaire investor Marc Lasry says the Fed's rampant stimulus makes 2020 a once in a lifetime opportunity for investors, as the US economy is fundamentally fine.</a> The Fed pouring trillions of dollars to shore up markets has in fact made coronavirus a "once in a lifetime opportunity," billionaire investor Marc Lasry says. 3. <a href="https://www.businessinsider.com/stock-market-investing-strategy-advice-2020-us-election-outcomes-ubs-2020-7?r=US&amp;IR=TIR=T">UBS has compiled an investing playbook for all the possible election outcomes. Here are the 6 trades it recommends to profit from a Trump triumph — and 10 for a Biden blue wave.</a> People complain about the length of US political campaigns. But in 2020, they might actually be a welcome distraction.4. <a href="https://www.businessinsider.com/real-estate-investing-strategy-cross-collateralization-guide-from-former-marine-2020-7?r=US&amp;IR=TIR=T">174 units with no prior experience: Here's the creative real-estate investing strategy a former Marine is using to generate 'crazy' cash flow.</a> After eight years in the Marine Corps, Matt DeBoth knew his life needed to move in a new direction.5. <a href="https://www.businessinsider.com/stock-picks-to-buy-market-beating-returns-coronavirus-spikes-evercore-2020-7?r=US&amp;IR=TIR=T">Buy these 15 stocks that are shielded from COVID-19 fallout and primed to beat the market even as virus cases spike, Evercore says.</a> Several states have seen spikes in COVID-19 cases in recent weeks, raising uncertainty for investors amid fears that the economy will sustain longer-term damage. 6. <a href="https://www.businessinsider.com/clearview-ai-under-investigation-in-the-uk-and-australia-2020-7?r=US&amp;IR=TIR=T">The UK and Australia are investigating Clearview AI, the facial recognition firm that scraped billions of photos from social media</a>. Clearview AI, the facial recognition company that boasted of scraping billions of photos from the internet, is being investigated by data privacy watchdogs in the UK and Australia.7. <a href="https://www.businessinsider.com/trading-underwriting-soften-profit-plunge-for-some-us-banks-2020-7?r=US&amp;IR=TIR=T">Trading, underwriting soften profit plunge for some US banks.</a> Trading and underwriting revenue could provide some comfort for big Wall Street banks that begin reporting results next week, although second-quarter profits likely plunged because of the coronavirus pandemic's impact on lending.8. Stocks are mixed. Asian stocks are up. European stocks and US futures are mixed. Moves are generally small, with S&amp;P 500 futures pointing to a 0.02% advance at the open, and most European indexes moving less than 0.5%.9. <a href="https://markets.businessinsider.com/earnings-calendar">Earnings coming in.</a> Kaufman et Broad is coming in. 10. <a href="https://markets.businessinsider.com/economic-calendar">On the economic front</a>. USA EIA Natural Gas Storage Change and US initial jobless claims are due.

You Searched For "quantumctek" and got 2 results

A Chinese tech stock skyrocketed 924% on its trading debut, breaking the record for a first-day gain

Theron Mohamed

10 things you need to know before the opening bell

Saloni Sardana

Popular Keywords

Buying Guides