Ping An Good Doctor (1833.hk) probably one of the hottest stock in HK over the last two days as Cathie Wood bought into in last week. Cathie Wood’s $6.8 million bet on Ping An Healthcare & Technology Co. unleashed a flood of buy orders from copycat investors on Thursday, lifting the company’s market value by a record $3.3 billion.
The Ark Fintech Innovation ETF bought 497,800 shares of Ping An Healthcare on Wednesday, according to an emailed trading disclosure, worth about $6.8 million at the session’s closing price. That was enough to boost the stock by 21% in Hong Kong on Thursday, the biggest gain since Ping An Healthcare’s 2018 listing.
What was interesting is that we actually spotted this stock under a month ago back on 26jan when it was at HK$93.30 =) Click the link below to see our post on our facebook
We’re glad it has hit multiple targets as we see PingAn GoodDoctor surged over 50% since our post! As it has been over extended, near term profit taking is not surprising and a test of that break out point of $135 can be expected. A break and staying below $135 could trigger more profit taking. Investors could take the downside as an opportunity to look to scale in once again.
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