Thursday, November 12, 2009

What Wireless Communications Stock Is Up 450% This Year?

Who would have thought that some of the hottest stocks would be in third world countries. I have written numerous articles about Zimbabwe in the past, primarily about the millions of percent of inflation, however, since the country has converted to multi-currencies, including the U.S. dollar, the economy and the Zimbabwe stock market has taken off.

One of the country's leading stocks is Econet Wireless (ZIM:ECONET), which has had a booming business, in not only Zimbabwe but also Lesotho, Botswana, Burundi and Kenya. The stock started trading at 100 U.S. cents in February of this year, and is now trading at $5.50, a 450% increase in share price. Unfortunately, there are no ADRs that trade in the United States.

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