China Xiangtai Food Co Ltd (NASDAQ:PLIN) appears to have bottomed. News out last week as well as some filings could be the impetus for a rally in these shares. Keep a close eye on it over the next few days for confirmation that a bottom was reached and a rally is underway. On Friday (Form 6-K) the company closed a private placement financing of 704,762 ordinary shares at a per share purchase price of $1.50. Nobody pays a 50% premium for a stock without a clear reason. Something is cooking IMHO. This company has announced great contracts recently. I took a long position.

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