Some headlines will tell you tech is the next big thing. Others say China is where to invest now. Combine the two, and what do you have? Spontaneous stock combustion.

Shares of ChinaCache (Nasdaq: CCIH), billed as China's version of Akamai Technologies (Nasdaq: AKAM), virtually doubled yesterday, its first day as a public company here in the U.S.

Founded in 1998, ChinaCache is like Akamai in that it operates a network of servers that deliver Web content and software on behalf of Chinese clients. The company is venture-backed, and its VC investors include Draper Fisher Jurvetson here in the United States. China Mobile (NYSE: CHL), (Nasdaq: CYOU), and Perfect World (Nasdaq: PWRD) are among the heavies on its customer list.

Financially, gross margins have been on the rise, but revenue has grown inconsistently, according to Capital IQ. No Wall Street analysts follow the stock -- typical for a business whose market cap is still less than $200 million.

Should you buy? I'm not ready to make that call with real money, but I'm willing to bet the stock will outperform in my Motley Fool CAPS portfolio. Rising margins are a good sign, and Akamai generates little, if any, revenue in Asia. Peers Limelight Networks (Nasdaq: LLNW) and Level 3 Communications (Nasdaq: LVLT) are similarly focused on North America. This looks like a growth story worth watching.

Now it's your turn to weigh in. Do you like ChinaCache at these levels? Share your thoughts in the comments box below, and if you're interested in ChinaCache, click here to add it to your Foolish watch list.