With a very minimal involvement in these games, Li Ning Co. has all of a sudden come away as a big winner, thanks to their namesake and chairman lighting the torch in Friday's Opening Ceremony.
After rising 3.7 percent on the Hong Kong Exchange on Friday on speculation that Li Ning could be lighting the cauldron, shares popped up again another 3.4 percent to $HK18.22 ($2.34), two days after the fabulous run around the stadium lip was pulled off.
About 4.4 million Li Ning shares usually trade every day. But on Friday, 9.4 million shares traded. Monday, another 9.8 million shares were traded.
Reuters is reporting that Li Ning, as of last month, owned 266.8 million shares. With each share up 15 cents over two days, that's an "Opening Ceremony gain" of $40 million.