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 salt and chemicals manufacturer Gulf Resources
So what: Today's big move is on the back of strong 2011 financial guidance that the company issued yesterday. At the midpoints of the guidance, the company sees revenue growth of 24% and net income growth of 27%. In addition, the stock was benefitting from the initiation of coverage from Brean Murray, Carret & Co., where analyst Wayne Chung started Gulf Resources with a "buy" rating and set a price target of $10.
Now what: It was a rough week for Gulf Resources last week as the stock dropped after a misstatement from management. It's been an even rougher few months as Gulf Resources' stock has lost close to 40% of its value. As a China-based, reverse-merger company, it seems likely that the stock has been caught in the pressure brought on by companies like Duoyuan Printing
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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 on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.