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Yoke Tech Cites No New Data to Justify 20% Stock Rally; Shares Slump 8%

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Jiangsu Yoke Technology (SHE:002409) warned investors that its recent 20% stock surge may be driven by "irrational" market speculation, according to a Shenzhen bourse filing on Thursday.

The electronic material products company's closing gains deviated by more than 20% across three straight trading sessions from June 29 to July 1.

Following an internal investigation and verification with its controlling shareholder, the company said it has no undisclosed material information, plans or negotiations that may have had a significant impact on its stock price.

The company's shares dropped nearly 8% during the morning trade on Thursday.

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