It's out of favour for a reason. No CDFA approval in sight is a big set back to its growth profile. How much stock did BAL say they had in China that could be sold after the 1/1/2018 cut-off for offline sales? It must be getting awfully close before that 15% (I think) of total BAL revenue goes to $0 and needs to be made up with sales elsewhere just to maintain flat growth.
The politics surrounding the acquisition of CFDA approval is also a worry. For example, if the company applying for approval is partly owned by a Chinese entity it reduces the time frame for approval substantially.
The gap at $10.98 is so close now it would be a disservice if it didn't fill.
It's out of favour for a reason. No CDFA approval in sight is a...
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