SkyPeople Fruit Juice Rallies On China Deal, Report

By Markets MarketWatch Pulse

Shares of SkyPeople Fruit Juice Inc. were up slightly in the extended session after having a big week. The Chinese-based fruit juice company's shares closed up 51% at $12.60 Wednesday, gaining an additional 2% after hours. For the week, shares are up 110%. Trading in the microcap company became volatile this week following reports that it reached an agreement to sell a majority stake in one of its units to a concern backed by the Chinese state, sending shares higher. That was followed by a drop Tuesday after micro-cap research firm GeoInvesting published a due diligence report on the deal that many took to have negative implications. Then, on Wednesday, GeoInvesting tweeted that media outlets were making incorrect assumptions about the report, reigniting a rally in the stock.

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