Inside this feeble brain resides a significant amount of skepticism. Perhaps from age or maybe the result of life’s encounters – the result is there is a difficulty in accepting anything at face value. Especially when it’s a moving target – otherwise known as a changing story line. Another case in point is the curious case of ZTE (ZTCOY) which exploded into our consciousness in major form this past week due – in no small part – to tweets from the president.
To set the stage, ZTE agreed to enter a guilty plea and pay a fine to settle a 2017 case that they violated export sanctions by shipping products with US components to Iran. On April 16, 2018 the Commerce Department enacted a ban on American companies conducting business with ZTE for seven years as a result of ZTE allegedly breaching said settlement. In addition, the US military had previously raised concerns of potential espionage by ZTE’s equipment on or near military bases.