‘Trump wins big’ meme stock surges in China ahead of U.S. election

Charlotte Yang

Sangmi Cha

Bloomberg

<p>Chinese investors are jumping into a little-known stock whose name sounds like “Trump wins big” less than a week before the US presidential election.&nbsp;</p><div class="paywall-selector"></div><div class="paywall">



<p>Shares of Wisesoft Co., whose Chinese name “Chuan Da Zhi Sheng” sounds like “Trump wins big” to Mandarin speakers, surged by the daily limit for a third day, bringing gains this week to more than 30% despite weakness in the broader market. The stock&nbsp;<a href="https://www.bloomberg.com/news/articles/2016-11-09/chinese-stock-that-sounds-like-trump-wins-big-wins-big" target="_blank" rel="noreferrer noopener">rallied</a>&nbsp;after Trump won the election in 2016.</p>



<p>“Wisesoft’s name includes both Trump and him winning and that carries a special meaning for Chinese investors,” said Shen Meng, a director at Chanson &amp; Co. This comes amid election-related reports that bode well for Trump, he added.&nbsp;</p>



<p>Retail investors in China are known for trading in stocks based on homophones — words that sound similar to another name or a phrase. In 2023, retail traders&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-11-08/dragon-is-latest-meme-stock-craze-in-china-on-zodiac-year-hopes" target="_blank" rel="noreferrer noopener">chased</a>&nbsp;shares with dragon-related names heading into the Year of the Dragon in the Chinese zodiac.</p>



<p>The rally in Wisesoft comes as Trump&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-10-28/bitcoin-btc-tops-70-000-for-first-time-since-june-as-election-nears" target="_blank" rel="noreferrer noopener">emerges</a>&nbsp;ahead in&nbsp;<a href="https://www.bloomberg.com/opinion/articles/2024-10-25/prediction-markets-reflect-that-the-election-clock-favors-trump" target="_blank" rel="noreferrer noopener">prediction markets</a>, while polls show a neck-and-neck race against Democratic candidate Vice President Kamala Harris. Interest in the stock has pushed it to overbought territory, based on its 14-day relative strength index.</p>



<p>The climb may not be sustainable given little change in fundamental support for the software and equipment maker. The company has been reporting losses in recent years and&nbsp;<a href="https://pdf.dfcfw.com/pdf/H2_AN202410251640503145_1.pdf?1729872330000.pdf" target="_blank" rel="noreferrer noopener">posted</a>&nbsp;a wider net loss of 27 million yuan ($3.8 million) for the first nine months of the year compared to the same period in 2023.&nbsp;</p>



<p>“Historically, <a href="https://fortune.com/2024/09/18/donald-trump-media-truth-social-stock/">meme stocks don’t last</a> long in China,” said Billy Leung, an investment strategist at Global X ETFs. Investors “tend to overplay it.”</p></div>

Shares of Wisesoft, whose Chinese name “Chuan Da Zhi Sheng” sounds like “Trump wins big” to Mandarin speakers, surged by the daily limit for a third day.

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