Martinas B.

The Wrong Meat For You: Asiana Corporation (ASIC.PK)

by Martinas B. July 1, 2008
6spam.jpgNew week, new stock that spammers have fallen in love with. Asiana Corporation (ASIC.PK) - a stock you should avoid for the time being, if you do not want to end up in the street.

From the stock chart below, you can clearly see a massive spike in the stock price around April. It seems that the spammers have done their job quite effectively, as the stock had been driven up to $0.50. However, soon after the stock sank like a stone to below $0.10.

asic_chart.gif

According to the company's description on its website, it is developing a closed loop payment system for the Chinese market. What that means basically, is that it only focuses on applying its technology on fundamental e-commerce applications that can easily be built as a front end to the existing electronic funds processing capabilities that the company already has in place.

On May 27th, the company announced it had signed and completed an online bank card payment service agreement with Shanghai Bank Union, a Chinese bank. The online service will be made available to Chinese users on the company's operating website.

Despite this happy development, it is still very risky to invest your money in this stock. You might end up in tears if you do.


Reference


www.asianacorporation.com

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