ACMR - Why ACM Research Rose 53.8% in July
Shares of ACM Research (NASDAQ: ACMR) climbed 53.8% in July, according to data from S&P Global Market Intelligence. While ACM didn't release its second-quarter earnings until after month-end, the stock got a hefty boost after a Chinese state-run newspaper, the China Securities Journal, ran a front-page editorial encouraging investors about the "wealth effect of the capital markets" and the prospect for a "healthy bull market."
Though ACMR is a U.S-founded and -listed company, a majority of its operations, employees, and customers are in China, and the editorial boosted all Chinese and China-related stocks.
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