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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of China-centric meat and food processor Zhongpin (Nasdaq: HOGS ) are living up to their ticker today, gorging on its chart with a nearly 16% gain so far on heavy volume.
So what: After about a month of investor gloom, Zhongpin announced a strategic partnership with China Construction Bank. About $1.5 billion of fresh capital will help Zhongpin expand in coming years.
Now what: This is a tremendously popular watchlist stock and a respected ticker in our CAPS system. China's food products industry has had its share of tribulations over the last year, depressing Zhongpin's share price even though the company had little to do with the "clenbuterol pork scandal." If you bought shares after the follow-on stock offering last month, congratulations -- with a large financial facility at its side, further dilution looks unlikely.
Interested in more info on Zhongpin? Add it to your watchlist.