ACMR - ACM Research: Remarks On Advantages And Wuhan Risk
ACM Research, Inc. (ACMR), a semiconductor capital equipment company, has more than doubled its market value in just one month. There were a few catalysts that potentiated the rally and gave it momentum.
First, the company's management shared bullish revenue guidance anticipating 41-43% sales growth in 2019 and 21-43% this year. This persuaded the market ACMR deserves a much higher valuation. Second, on January 22, Nomura/Instinet analyst Donnie Teng lifted the price target to $70 per share; the sentiment update spurred investors' hurriedness to initiate long positions.
However, on January 23 and 24,