Meitu (HKG: 1357) shares are up 13% today. That takes the cumulative rise so far this year to 166% which is pretty good for an app maker. It’s worth noting that the OTC stock, MEIUF, is in fact down over this time period. This is what a near-total absence of liquidity does, makes the two quotes and stock prices diverge wildly in their performance. That also suggests an interesting physical trade for anyone who thinks it worth hte effort. Perhaps it’s possible to settle in HK with the OTC stock - if it is then there’s an arbitrage to be done there.
As to what’s done at Meitu: “Meitu, Inc., an investment holding company, operates as an internet company in the People’s Republic of China and internationally. It offers a portfolio of photo and community apps, including the Meitu app, BeautyCam, BeautyPlus, Meipai, MeituEve, MeituGenius, and others. The company also provides online advertising, VIP subscription and software as a service, internet value-added, influencer marketing, advertising agency, and other related services.”
This is one of those business worlds where if the cool kids adopt it then volumes will grow massively. There will be lots of also-rans but the market leaders do very well indeed.
