According to BlockBeats, Jiang Zhuoer, founder of mining pool B.TOP, said on July 27 that Changxin Technology’s opening price was too high and that no trading or arbitrage opportunity remained. His latest comment followed remarks he made a day earlier, when he said Changxin Storage would likely open higher, spike, and then pull back, with the first trading day potentially marking the stock’s historical high. Jiang had outlined what he called an ideal setup: buy at the A-share market open, sell Hype into the midday surge, then on the second day sell the A-share position and buy back Hype to close the trade. He also warned that anyone who had not prepared Hype in advance could be caught by the T+1 trading rule, adding that the outcome could end up resembling a long-term trap like PetroChina.
Jiang Zhuoer, founder of mining pool B.TOP, said on July 27 that Changxin Technology opened at too high a price and that there was no longer any room for trading or arbitrage, according to BlockBeats.
A day earlier, Jiang wrote: "Changxin Storage will most likely open higher, surge, and then fall back. The first day may itself be the all-time high. The perfect script is to buy at the A-share open, sell Hype into the midday spike, and on the second day sell the A-share position and buy back Hype to flatten the trade. If you didn’t prepare Hype, getting hit by T+1 could leave you stuck for a very long time, just like PetroChina."
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