Company’s stock surges after being roasted by popular comedian
Published: Sep 14, 2022 01:47 AM
Stand-up comedian House at Rock & Roast show Photo: Screenshot of Tencent Video

Stand-up comedian House at Rock & Roast show Photo: Screenshot of Tencent Video

The stock price of a Chinese oil and gas exploration company rose by 5.2 percent on Tuesday after the company was roasted by a popular Chinese stand-up comedian. Both the company and the comedian have called for investors to pay attention to risks and make rational investment decisions.

The stock became a trending topic on Chinese social media after a stand-up comedian named House mentioned it at Rock & Roast, a popular stand-up comedy show in China on Sunday.

House shared the experience of his failed stock speculation during the show, saying he had made some profit in the first two days but lost much more in the third and fourth days. House said in the show that the stock had lost him nearly 100,000 yuan (roughly $14,400). 

The performance immediately attracted the attention of A-share investors toward Geo-jade Petroleum Corporation, which mainly engages in oil and gas exploration, development and production. The company jumped from No. 105 to No. 1 on the hot stock list on Monday. 

The company issued a statement on Monday, saying there had been no major change in its production and operations and saying investors should invest rationally and pay attention to risks.

House said on Tuesday that his performance was meant to bring amusement and said that neither he nor his family own shares in the company and have no plans to buy any. He also said investors should be cautious when investing in the stock market.

Despite these clarifications, the stock rose by 5.2 percent at the opening on Tuesday, the first trading day after the three-day holiday. "The price trend was abnormal this morning and Shanghai Stock Exchange has taken self-regulatory measures," the Shanghai Stock Exchange said on Tuesday.