
This Chinese Stock Soared 4,500% on Nasdaq and No One Knows Why - exolymph
https://www.bloomberg.com/news/articles/2017-03-30/this-chinese-stock-soared-4-500-on-nasdaq-and-no-one-knows-why
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fanzhang
Could it be that the float on this stock is so small that when index funds try
to buy the stock, the price is pushed up massively?

A theoretical problem with market-cap-weighted index funds is that a fund that
holds x percent (usually very small) of the world's wealth will want to buy x%
of each company. If a company has less than x% of stock outstanding, the fund
will push the price up indefinitely

