Reported about 1 month ago
A small Chinese brokerage, Sealand Securities Co., experienced a significant surge in its stock price following the announcement of a merger between industry giants Guotai Junan Securities and Haitong Securities. The merger will result in the creation of the largest brokerage in China, with total assets of 1.6 trillion yuan ($230 billion). Due to the phonetic similarity of Sealand's name to the merged entities, retail investors flocked to the stock, pushing its price to the limit-up level.
Source: YAHOO