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Why e-Future Information Technology Is up 80 Percent Monday (EFUT)

Graph With Stacks Of CoinsShares of e-Future Information Technology (NASDAQ: EFUT) are soaring 80 percent after the company issued a press release that said it signed an agreement with Rainbow Department Store Company to launch MyStore, a social platform which reportedly will “facilitate easy access between sales clerks and their customers” along with incorporating a social shipping network.

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Rainbow Department stores is one of the top 100 chain retailers in China, operating 55 stores in the country. e-Future pledged to provide three Rainbow-owned stores with the platform which helps to address the “Big Data” needs of the chain.

Another China Stock Popping

e-Future is another in the recent string of microcap, low-float Chinese companies that have seen huge moves on what might be considered small announcements like this. On Friday, we reported that NF Energy (NASDAQ: NFEC), another China-based company, was up more than 100 percent on no verifiable news. Read that story here.

Company Profile:

eFuture Information Technology Inc. is a leading provider of software and services in China’s rapidly growing retail and consumer goods industries. eFuture provides integrated software and services to manufacturers, distributors, wholesalers, logistics companies and retailers in China’s front-end supply chain (from factory to consumer) market, especially in the retail and fast moving consumer goods industries

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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