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 Chinese fertilizer company China Green Agriculture (NYSE: CGA) slipped as much as 18% in intraday trading on heavier-than-average volume.

So what: The only new "news" out today is a press release from the company stating that "its policy is not to comment on unusual market activity or rumors." This follows a 12% drubbing that the stock took yesterday. Perhaps investors were hoping that the company would fire back after the drop with something to bolster investor confidence. If that was the case, the company's note was sorely disappointing.

Now what: Potentially more irksome for the stock was the fact that investors' primary bugaboo -- the fraud accusations against the company -- were dragged back into the fore today as multiple pundits questioned why Chinese microcap Kingtone Wirelessinfo (Nasdaq: KONE) is set to ring the Nasdaq opening bell on Monday. Why would China Green Agriculture get dragged into this? Simple: Kingtone shares its CEO with China Green. If this sounds goofy, then you probably haven't been following the comedy that is China reverse-merger companies, because this kind of oddity has come to seem like par for the course.


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The Motley Fool owns shares of China Green Agriculture. Motley Fool newsletter services have recommended buying shares of China Green Agriculture. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.                                                                                          

Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or Facebook. The Fool’s disclosure policy prefers dividends over a sharp stick in the eye.